DragonWave Inc. (DRWI) Sees Large Decline in Short Interest
DragonWave Inc. (NASDAQ:DRWI) (TSE:DWI) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 268,843 shares, a decrease of 49.5% from the October 31st total of 532,137 shares. Currently, 5.3% of the shares of the company are short sold. Based on an average daily volume of 221,189 shares, the days-to-cover ratio is presently 1.2 days.
DragonWave (NASDAQ:DRWI) opened at 2.90 on Tuesday. The stock’s market cap is $15.91 million. The firm has a 50-day moving average price of $3.20 and a 200 day moving average price of $3.65. DragonWave has a 52-week low of $1.40 and a 52-week high of $10.66.
DragonWave (NASDAQ:DRWI) last issued its earnings results on Wednesday, October 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.95) by $0.01. The firm earned $13.20 million during the quarter. DragonWave had a negative return on equity of 390.31% and a negative net margin of 39.81%. Equities analysts anticipate that DragonWave will post ($2.16) earnings per share for the current year.
DRWI has been the subject of several analyst reports. Desjardins restated a “sell” rating and set a $3.00 price target on shares of DragonWave in a research note on Saturday, October 15th. Zacks Investment Research upgraded DragonWave from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a research note on Tuesday, October 18th. Rodman & Renshaw began coverage on DragonWave in a research report on Tuesday, September 6th. They issued a “buy” rating and a $4.00 price objective for the company. Finally, S&P Equity Research cut their price objective on DragonWave from $4.67 to $3.36 in a research report on Thursday, October 20th.
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DragonWave Company Profile
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.
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