DragonWave Inc. (NASDAQ:DRWI)’s share price fell 4.2% during mid-day trading on Wednesday . The stock traded as low as $2.91 and last traded at $2.96, with a volume of 73,518 shares. The stock had previously closed at $3.09.

Several brokerages have issued reports on DRWI. Zacks Investment Research lowered DragonWave from a “hold” rating to a “sell” rating in a report on Wednesday, July 20th. Desjardins lowered DragonWave from a “hold” rating to a “sell” rating in a report on Saturday, May 21st.

The firm has a 50 day moving average of $4.09 and a 200 day moving average of $4.07. The firm’s market capitalization is $10.73 million.

DragonWave (NASDAQ:DRWI) last posted its earnings results on Wednesday, July 13th. The company reported ($1.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.85) by $0.38. The company had revenue of $12.50 million for the quarter. Analysts expect that DragonWave Inc. will post ($4.51) EPS 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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