DragonWave Inc (NASDAQ:DRWI) Downgraded to “Sell” at Desjardins
DragonWave Inc (NASDAQ:DRWI) (TSE:DWI) was downgraded by investment analysts at Desjardins from a “hold” rating to a “sell” rating in a research report issued on Thursday.
A number of other brokerages have also recently issued reports on DRWI. Rodman & Renshaw reiterated a “buy” rating and set a $4.00 price objective on shares of DragonWave in a research note on Monday, April 3rd. HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of DragonWave in a research note on Monday, April 3rd. Zacks Investment Research upgraded DragonWave from a “hold” rating to a “buy” rating and set a $1.50 price objective on the stock in a research note on Wednesday, April 5th. Finally, CIBC cut DragonWave from a “sector perform” rating to a “sector underperform” rating and set a $1.15 price objective on the stock. in a research note on Tuesday, May 30th. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $2.48.
Shares of DragonWave (NASDAQ:DRWI) remained flat at $0.89 during trading on Thursday. 149,351 shares of the company were exchanged. The firm has a 50 day moving average of $0.87 and a 200 day moving average of $1.33. The firm’s market capitalization is $7.57 million. DragonWave has a one year low of $0.64 and a one year high of $5.18.
DragonWave (NASDAQ:DRWI) (TSE:DWI) last announced its quarterly earnings data on Wednesday, July 12th. The communications equipment provider reported ($0.52) earnings per share (EPS) for the quarter. DragonWave had a negative return on equity of 2,435.89% and a negative net margin of 40.27%. The company had revenue of $8.99 million for the quarter. On average, equities analysts anticipate that DragonWave will post ($1.80) earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in DragonWave stock. Sabby Management LLC acquired a new position in DragonWave Inc (NASDAQ:DRWI) (TSE:DWI) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 466,696 shares of the communications equipment provider’s stock, valued at approximately $677,000. Sabby Management LLC owned approximately 7.65% of DragonWave at the end of the most recent quarter. Institutional investors and hedge funds own 14.69% of the company’s stock.
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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