DragonWave Inc. (DRWI) Sees Large Volume Increase
Shares of DragonWave Inc. (NASDAQ:DRWI) saw unusually-high trading volume on Monday . Approximately 132,656 shares traded hands during mid-day trading, an increase of 110% from the previous session’s volume of 63,037 shares.The stock last traded at $5.23 and had previously closed at $4.85.
Separately, Desjardins cut shares of DragonWave from a “hold” rating to a “sell” rating in a report on Saturday, May 21st.
The stock’s 50 day moving average price is $4.50 and its 200 day moving average price is $3.91. The stock’s market cap is $18.48 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. Equities analysts predict that DragonWave Inc. will post ($4.01) 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.