DragonWave Inc (DRWI) Posts Quarterly Earnings Results
DragonWave Inc (NASDAQ:DRWI) (TSE:DWI) announced its quarterly earnings results on Wednesday. The communications equipment provider reported ($0.52) earnings per share (EPS) for the quarter, Morningstar.com reports. The company had revenue of $8.99 million during the quarter. DragonWave had a negative return on equity of 2,435.89% and a negative net margin of 36.47%.
DragonWave (DRWI) opened at 1.09 on Thursday. The firm’s market capitalization is $9.27 million. The company has a 50 day moving average price of $0.90 and a 200-day moving average price of $1.50. DragonWave has a one year low of $0.64 and a one year high of $6.83.
DRWI has been the topic of several recent research reports. S&P Equity Research raised their price target on DragonWave from $1.50 to $1.70 in a report on Wednesday, March 15th. Zacks Investment Research upgraded DragonWave from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a research report on Wednesday, April 5th. Rodman & Renshaw restated a “buy” rating and issued a $4.00 target price on shares of DragonWave in a research report on Monday, April 3rd. CIBC cut DragonWave from a “sector perform” rating to a “sector underperform” rating and set a $1.15 target price on the stock. in a research report on Tuesday, May 30th. Finally, HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of DragonWave in a research report on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $2.48.
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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