WI-LAN Shares Gap Up Following Earnings Beat (WILN)
WI-LAN (NASDAQ:WILN) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings, AnalystRatingsNetwork reports. The stock had previously closed at $3.10, but opened at $3.14. WI-LAN shares last traded at $3.20, with a volume of 251,865 shares changing hands.
The company reported $0.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.10 by $0.04. The company had revenue of $25.70 million for the quarter, compared to the consensus estimate of $21.53 million. The company’s quarterly revenue was up 32.5% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of WI-LAN from a “neutral” rating to an “outperform” rating in a research note on Monday, June 23rd. They now have a $3.40 price target on the stock. Separately, analysts at TheStreet upgraded shares of WI-LAN from a “sell” rating to a “hold” rating in a research note on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $3.45.
The stock has a 50-day moving average of $3.11 and a 200-day moving average of $3.08. The company’s market cap is $386.2 million.
Wi-LAN Inc (NASDAQ:WILN) is a licensing company.
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