DragonWave Inc. (DRWI) Shares Up 27.5%
DragonWave Inc. (NASDAQ:DRWI) shot up 27.5% during mid-day trading on Thursday . The stock traded as high as $5.05 and last traded at $5.05, with a volume of 424,962 shares changing hands. The stock had previously closed at $3.96.
Separately, Desjardins lowered DragonWave from a “hold” rating to a “sell” rating in a research report on Saturday, May 21st.
The company has a 50-day moving average price of $4.46 and a 200 day moving average price of $3.87. The company’s market capitalization is $17.59 million.
DragonWave (NASDAQ:DRWI) last issued its quarterly earnings data on Wednesday, July 13th. The company reported ($1.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.85) by $0.38. The firm earned $12.50 million during the quarter. Analysts anticipate that DragonWave Inc. will post ($3.55) earnings per share for the current year.
DragonWave Inc provides wireless Ethernet equipment used in Internet protocol (IP) networks. The Company designs, develops, markets and sells carrier-grade microwave radio frequency networking equipment that wirelessly transmit broadband voice, video and other data between two points. Its principal commercialized product lines include Harmony, Horizon, Avenue and NetViewer.
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