DragonWave Inc. (DRWI) Shares Up 7.1%
Shares of DragonWave Inc. (NASDAQ:DRWI) shot up 7.1% during trading on Friday . The stock traded as high as $5.18 and last traded at $4.69, with a volume of 431,487 shares trading hands. The stock had previously closed at $4.38.
Several brokerages have recently commented on DRWI. Zacks Investment Research downgraded DragonWave from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. Desjardins downgraded DragonWave from a “hold” rating to a “sell” rating in a research note on Saturday, May 21st.
The stock’s 50-day moving average price is $4.40 and its 200-day moving average price is $3.98. The company’s market capitalization is $16.68 million.
DragonWave (NASDAQ:DRWI) last posted its quarterly earnings results on Wednesday, July 13th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.85) by $0.38. The business had revenue of $12.50 million for the quarter. Analysts expect that DragonWave Inc. will post ($4.51) earnings per share for the current fiscal 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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