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Meru Networks (NASDAQ:MERU) Director Harold D. Copperman bought 2,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $3.59 per share, for a total transaction of $7,180.00. Following the completion of the transaction, the director now directly owns 405,452 shares of the company’s stock, valued at approximately $1,455,573. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Meru Networks (NASDAQ:MERU) traded up 0.28% during mid-day trading on Wednesday, hitting $3.52. 11,470 shares of the company’s stock traded hands. Meru Networks has a 52 week low of $2.93 and a 52 week high of $4.94. The stock’s 50-day moving average is $3.80 and its 200-day moving average is $4.06. The company’s market cap is $83.0 million.

Meru Networks (NASDAQ:MERU) last released its earnings data on Monday, July 28th. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.12) by $0.01. The company had revenue of $23.60 million for the quarter, compared to the consensus estimate of $23.90 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was down 10.9% on a year-over-year basis. On average, analysts predict that Meru Networks will post $-0.36 earnings per share for the current fiscal year.

Meru Networks, Inc (NASDAQ:MERU) provides a virtualized wireless local area network (LAN) solution.

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