DragonWave Inc. (DRWI) Stock Price Down 10%
DragonWave Inc. (NASDAQ:DRWI)’s share price fell 10% during mid-day trading on Monday . The company traded as low as $3.84 and last traded at $4.14, with a volume of 162,301 shares. The stock had previously closed at $4.60.
A number of research firms have recently issued reports on DRWI. Desjardins cut DragonWave from a “hold” rating to a “sell” rating in a report on Saturday, May 21st. Zacks Investment Research cut DragonWave from a “hold” rating to a “sell” rating in a report on Wednesday, July 20th.
The stock’s market capitalization is $14.50 million. The stock has a 50-day moving average price of $4.38 and a 200-day moving average price of $3.99.
DragonWave (NASDAQ:DRWI) last released its quarterly earnings results on Wednesday, July 13th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.85) by $0.38. The firm earned $12.50 million during the quarter. On average, equities analysts anticipate 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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