DragonWave Inc. (DRWI) Stock Price Down 10%
Shares of DragonWave Inc. (NASDAQ:DRWI) dropped 10% during trading on Monday . The stock traded as low as $3.84 and last traded at $4.14, with a volume of 162,301 shares traded. The stock had previously closed at $4.60.
Several analysts have recently issued reports on the stock. Desjardins cut shares of DragonWave from a “hold” rating to a “sell” rating in a research note on Saturday, May 21st. Zacks Investment Research cut shares of DragonWave from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th.
The company’s market capitalization is $11.29 million. The stock’s 50 day moving average is $4.33 and its 200 day moving average is $4.05.
DragonWave (NASDAQ:DRWI) last announced its quarterly earnings results on Wednesday, July 13th. The company reported ($1.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.85) by $0.38. The firm had revenue of $12.50 million for the quarter. Equities analysts predict 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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