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Analysts at HC Wainwright began coverage on shares of DragonWave, Inc.(USA) (NASDAQ:DRWI) in a research report issued to clients and investors on Friday. The firm set a “neutral” rating on the stock. The analysts noted that the move was a valuation call.

Shares of DragonWave, Inc (NASDAQ:DRWI) opened at 1.22 on Friday. DragonWave, Inc has a 52-week low of $1.08 and a 52-week high of $3.58. The stock’s 50-day moving average is $1.30 and its 200-day moving average is $1.38. The company’s market cap is $70.8 million.

DragonWave, Inc.(USA) (NASDAQ:DRWI) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.20) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.14) by $0.06. The company had revenue of $17.90 million for the quarter, compared to the consensus estimate of $28.17 million. During the same quarter in the prior year, the company posted ($0.71) earnings per share. The company’s quarterly revenue was down 36.7% on a year-over-year basis. On average, analysts predict that DragonWave, Inc will post $-0.39 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Desjardins cut their price target on shares of DragonWave, Inc.(USA) from C$1.90 to C$1.70 in a research note on Friday, May 16th. They now have a “hold” rating on the stock. Separately, analysts at Jefferies Group cut their price target on shares of DragonWave, Inc.(USA) from C$2.00 to C$1.50 in a research note on Friday, May 16th. They now have a “hold” rating on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of DragonWave, Inc.(USA) from C$1.50 to C$1.25 in a research note on Friday, May 16th. They now have a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. DragonWave, Inc.(USA) currently has a consensus rating of “Hold” and an average target price of $1.45.

DragonWave Inc (NASDAQ:DRWI) is in the business of developing broadband wireless backhaul and pseudowire equipment.

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