Meru Networks General Counsel Mark Liu Unloads 1,500 Shares (MERU)
Meru Networks (NASDAQ:MERU) General Counsel Mark Liu sold 1,500 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $3.66, for a total value of $5,490.00. Following the transaction, the general counsel now directly owns 3,149 shares of the company’s stock, valued at approximately $11,525. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on MERU. Analysts at William Blair downgraded shares of Meru Networks from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 29th. Analysts at Mizuho initiated coverage on shares of Meru Networks in a research note on Tuesday, March 18th. They set a “buy” rating and a $6.00 price target on the stock.
Shares of Meru Networks (NASDAQ:MERU) traded down 0.56% during mid-day trading on Tuesday, hitting $3.53. The stock had a trading volume of 13,842 shares. Meru Networks has a 52-week low of $2.93 and a 52-week high of $5.33. The stock’s 50-day moving average is $4.19 and its 200-day moving average is $4.09. The company’s market cap is $82.0 million.
Meru Networks (NASDAQ:MERU) last posted its quarterly earnings results on Monday, April 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by $0.04. The company had revenue of $20.60 million for the quarter, compared to the consensus estimate of $22.02 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. Analysts expect that Meru Networks will post $-0.38 EPS for the current fiscal year.
Meru Networks, Inc (NASDAQ:MERU) provides a virtualized wireless local area network (LAN) solution.
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