Sierra Wireless Sees Significant Decline in Short Interest (SWIR)
Shares of Sierra Wireless (NASDAQ:SWIR) were the recipient of a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 2,082,202 shares, a drop of 25.8% from the July 31st total of 2,805,000 shares, StockRatingsNetwork.com reports. Currently, 6.7% of the company’s stock are sold short. Based on an average trading volume of 615,839 shares, the short-interest ratio is presently 3.4 days.
Several analysts have recently commented on the stock. 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 assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $21.93.
Sierra Wireless (NASDAQ:SWIR) opened at 28.52 on Friday. Sierra Wireless has a 52-week low of $12.16 and a 52-week high of $30.00. The stock has a 50-day moving average of $23.06 and a 200-day moving average of $21.3. The company’s market cap is $898.4 million.
Sierra Wireless (NASDAQ:SWIR) last issued its quarterly earnings data 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. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Analysts expect that Sierra Wireless will post $0.40 EPS for the current fiscal year.
Sierra Wireless, Inc (NASDAQ:SWIR) is engaged in the development of wireless technologies and solutions.
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