Sierra Wireless Inc. (SWIR) Short Interest Update
Sierra Wireless Inc. (NASDAQ:SWIR) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 563,779 shares, a decrease of 20.3% from the August 31st total of 707,481 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average trading volume of 167,665 shares, the days-to-cover ratio is currently 3.4 days.
A number of equities research analysts have commented on SWIR shares. Canaccord Genuity reissued a “buy” rating and set a $17.00 price objective on shares of Sierra Wireless in a report on Monday, September 12th. Zacks Investment Research raised shares of Sierra Wireless from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Thursday, July 21st. CIBC lowered shares of Sierra Wireless from a “sector perform” rating to a “sector underperform” rating and set a $13.00 target price on the stock. in a research note on Friday, August 5th. Finally, National Bank Financial started coverage on shares of Sierra Wireless in a research note on Tuesday. They issued a “sector perform” rating and a $16.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $17.30.
Shares of Sierra Wireless (NASDAQ:SWIR) opened at 14.41 on Friday. The company has a 50 day moving average of $14.23 and a 200-day moving average of $16.14. Sierra Wireless has a 12 month low of $9.69 and a 12 month high of $25.94. The firm has a market capitalization of $456.49 million, a P/E ratio of 111.71 and a beta of 1.61.
Sierra Wireless (NASDAQ:SWIR) last issued its earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. Sierra Wireless had a return on equity of 2.96% and a net margin of 0.73%. The business earned $156.23 million during the quarter, compared to the consensus estimate of $154.55 million. During the same quarter last year, the company earned $0.26 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. Analysts predict that Sierra Wireless will post $0.52 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Heathbridge Capital Management Ltd. bought a new position in shares of Sierra Wireless during the second quarter valued at approximately $8,787,000. Brighton Jones LLC increased its position in shares of Sierra Wireless by 774.4% in the second quarter. Brighton Jones LLC now owns 350,940 shares of the company’s stock valued at $5,952,000 after buying an additional 310,804 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Sierra Wireless by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 1,573,508 shares of the company’s stock valued at $26,687,000 after buying an additional 124,202 shares in the last quarter. Harvest Capital Strategies LLC bought a new position in shares of Sierra Wireless during the first quarter valued at approximately $1,454,000. Finally, Vanguard Group Inc. increased its position in shares of Sierra Wireless by 16.3% in the second quarter. Vanguard Group Inc. now owns 535,516 shares of the company’s stock valued at $9,082,000 after buying an additional 75,056 shares in the last quarter. Institutional investors and hedge funds own 19.81% of the company’s stock.
About Sierra Wireless
Sierra Wireless, Inc offers second generation (2G), third generation (3G) and fourth generation (4G) cellular embedded wireless modules and gateways. The Company offers products to original equipment manufacturers (OEMs) and enterprises. It operates through three segments: OEM Solutions, Enterprise Solutions, and Cloud and Connectivity Services.
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