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Sierra Wireless (NASDAQ:SWIR)’s share price reached a new 52-week high on Tuesday , ARN reports. The company traded as high as $28.94 and last traded at $28.44, with a volume of 647,363 shares. The stock had previously closed at $28.01.

A number of analysts have recently weighed in on SWIR shares. Analysts at Paradigm Capital downgraded shares of Sierra Wireless to a “hold” rating in a research note on Monday, August 4th. Separately, analysts at BMO Capital Markets raised their price target on shares of Sierra Wireless from $19.00 to $20.00 in a research note on Friday, August 1st. Finally, analysts at Raymond James raised their price target on shares of Sierra Wireless from $21.00 to $22.50 in a research note on Friday, August 1st. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Sierra Wireless presently has an average rating of “Hold” and a consensus target price of $21.93.

The stock’s 50-day moving average is $22.16 and its 200-day moving average is $21.07. The company’s market cap is $911.1 million. Sierra Wireless also was the target of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 2,082,202 shares, a decrease of 25.8% from the July 31st total of 2,805,000 shares. Based on an average trading volume of 615,839 shares, the days-to-cover ratio is presently 3.4 days. Currently, 6.7% of the company’s stock are sold short.

Sierra Wireless (NASDAQ:SWIR) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.08 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.07 by $0.01. The company had revenue of $135.01 million for the quarter, compared to the consensus estimate of $129.42 million. During the same quarter last year, the company posted $0.03 earnings per share. Sierra Wireless’s revenue was up 23.2% compared to the same quarter last year. On average, analysts predict that Sierra Wireless will post $0.40 earnings per share for the current fiscal year.

Sierra Wireless, Inc (NASDAQ:SWIR) is engaged in the development of wireless technologies and solutions.

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