DragonWave Inc. (DRWI) Earns Sell Rating from Desjardins

Desjardins restated their sell rating on shares of DragonWave Inc. (NASDAQ:DRWI) in a research note issued to investors on Saturday morning. The brokerage currently has a $3.00 target price on the stock.

Other equities research analysts have also issued reports about the company. Rodman & Renshaw started coverage on DragonWave in a research report on Tuesday, September 6th. They set a buy rating and a $4.00 target price for the company. Zacks Investment Research raised DragonWave from a sell rating to a hold rating in a research report on Wednesday, September 14th.

DragonWave (NASDAQ:DRWI) traded down 3.19% during midday trading on Friday, hitting $2.43. The stock had a trading volume of 56,180 shares. The stock’s market cap is $8.81 million. DragonWave has a 52-week low of $1.50 and a 52-week high of $10.66. The company’s 50 day moving average price is $2.76 and its 200-day moving average price is $4.25.

DragonWave (NASDAQ:DRWI) last issued its earnings results on Wednesday, October 12th. The company reported ($0.96) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.95) by $0.01. The firm had revenue of $13.20 million for the quarter. DragonWave had a negative net margin of 39.81% and a negative return on equity of 390.31%. Analysts forecast that DragonWave will post ($3.49) EPS for the current fiscal year.

About DragonWave

DragonWave Inc (DragonWave) is a provider of packet microwave solutions for Internet protocol (IP) networks. The Company operates through broadband wireless backhaul equipment segment. The principal application of DragonWave’s products is mobile network backhaul. Additional applications include leased line replacement, last mile fiber extension and enterprise networks.

5 Day Chart for NASDAQ:DRWI

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