Ruckus Wireless CTO Unloads $1,639,500 in Stock (RKUS)
Ruckus Wireless (NASDAQ:RKUS) CTO William S.A. Kish sold 150,000 shares of the company’s stock on the open market in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $10.93, for a total value of $1,639,500.00. Following the completion of the transaction, the chief technology officer now directly owns 1,679,721 shares in the company, valued at approximately $18,359,351. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Ruckus Wireless (NASDAQ:RKUS) traded down 1.08% during mid-day trading on Thursday, hitting $11.01. The stock had a trading volume of 1,134,161 shares. Ruckus Wireless has a 52-week low of $8.65 and a 52-week high of $18.58. The stock has a 50-day moving average of $11.14 and a 200-day moving average of $12.23. The company has a market cap of $903.4 million and a price-to-earnings ratio of 556.50.
Ruckus Wireless (NASDAQ:RKUS) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.05 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.04 by $0.01. The company had revenue of $75.10 million for the quarter, compared to the consensus estimate of $72.21 million. Analysts expect that Ruckus Wireless will post $0.22 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Wells Fargo & Co. initiated coverage on shares of Ruckus Wireless in a research note on Tuesday, June 24th. They set a “market perform” rating on the stock. Separately, analysts at Buckingham Research initiated coverage on shares of Ruckus Wireless in a research note on Thursday, June 19th. They set a “buy” rating and a $14.00 price target on the stock. Finally, analysts at BMO Capital Markets initiated coverage on shares of Ruckus Wireless in a research note on Wednesday, May 28th. They set an “outperform” rating and a $13.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Ruckus Wireless currently has a consensus rating of “Buy” and a consensus target price of $14.64.
Ruckus Wireless, Inc (NASDAQ:RKUS) is a provider of Wi-Fi solutions.
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