DragonWave Inc. (NASDAQ:DRWI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $2.25 price objective on the stock. Zacks Investment Research’s price objective points to a potential upside of 7.66% from the company’s current price.

According to Zacks, “DragonWave is a leading provider of high-capacity packet microwave solutions that drive next-generation IP networks. DragonWave’s carrier-grade point-to-point packet microwave systems transmit broadband voice, video and data, enabling service providers, government agencies, enterprises and other organizations to meet their increasing bandwidth requirements rapidly and affordably. The principal application of DragonWave’s products is wireless network backhaul. Additional solutions include leased line replacement, last mile fiber extension and enterprise networks. DragonWave’s award winning HorizonĀ® solutions are known in the industry for their leading capacity, reliability, and spectral efficiency. The company has a network of distributor and reseller partners globally. Customers include Carriers, Service Providers, Utilities, WISP’s and Enterprises. DragonWave’s corporate headquarters is located in Ottawa, Ontario, with sales locations in Europe, the Middle East and North America. “

A number of other brokerages have also recently issued reports on DRWI. Rodman & Renshaw assumed coverage on DragonWave in a research note on Tuesday, September 6th. They set a “buy” rating and a $4.00 price objective for the company. Desjardins restated a “sell” rating and issued a $3.00 price target on shares of DragonWave in a research note on Saturday.

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Shares of DragonWave (NASDAQ:DRWI) traded down 4.13% during mid-day trading on Tuesday, reaching $2.09. The company had a trading volume of 27,436 shares. The firm has a 50 day moving average of $2.74 and a 200-day moving average of $4.25. The stock’s market capitalization is $7.58 million. DragonWave has a one year low of $1.50 and a one year high of $10.66.

DragonWave (NASDAQ:DRWI) last announced its quarterly earnings data on Wednesday, October 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.95) by $0.01. The company had revenue of $13.20 million for the quarter. DragonWave had a negative net margin of 39.81% and a negative return on equity of 390.31%. Analysts forecast that DragonWave will post ($3.49) EPS for the current fiscal year.

DragonWave Company Profile

DragonWave Inc (DragonWave) is a provider of packet microwave solutions for Internet protocol (IP) networks. The Company operates through broadband wireless backhaul equipment segment. The principal application of DragonWave’s products is mobile network backhaul. Additional applications include leased line replacement, last mile fiber extension and enterprise networks.

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