DragonWave, Inc.(USA) Trading Up 2.2% Following Analyst Upgrade (DRWI)
DragonWave, Inc.(USA) (NASDAQ:DRWI)’s share price traded up 2.2% during trading on Monday after Scotiabank raised their price target on the stock from C$1.20 to C$1.80, AR Network reports. Scotiabank currently has an underperform rating on the stock. DragonWave, Inc.(USA) traded as high as $2.45 and last traded at $2.31, with a volume of 1,333,524 shares changing hands. The stock had previously closed at $2.26.
DRWI has been the subject of a number of other recent research reports. Analysts at HC Wainwright & Co. upgraded shares of DragonWave, Inc.(USA) from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 2nd. They now have a $3.00 price target on the stock. Separately, analysts at HC Wainwright upgraded shares of DragonWave, Inc.(USA) from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 2nd. Finally, analysts at HC Wainwright initiated coverage on shares of DragonWave, Inc.(USA) in a research note on Friday, May 23rd. They set a “neutral” rating on the stock. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. DragonWave, Inc.(USA) has a consensus rating of “Hold” and a consensus target price of $1.72.
The stock’s 50-day moving average is $1.45 and its 200-day moving average is $1.43. The company’s market cap is $136.8 million.
DragonWave, Inc.(USA) (NASDAQ:DRWI) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.20) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.71) earnings per share. DragonWave, Inc.(USA)’s revenue was down 36.7% compared to the same quarter last year. Analysts expect that DragonWave, Inc will post $-0.36 EPS for the current fiscal year.
DragonWave Inc (NASDAQ:DRWI) is in the business of developing broadband wireless backhaul and pseudowire equipment.
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