Desjardins downgraded shares of DragonWave Inc (NASDAQ:DRWI) (TSE:DWI) from a hold rating to a sell rating in a research note released on Thursday morning. They currently have $0.30 target price on the communications equipment provider’s stock, down from their previous target price of $3.30.

Several other equities analysts have also recently commented on DRWI. Rodman & Renshaw reissued a buy rating and set a $4.00 target price on shares of DragonWave in a research report on Monday, April 3rd. HC Wainwright reissued a buy rating and set a $4.00 target price on shares of DragonWave in a research report on Monday, April 3rd. Zacks Investment Research raised shares of DragonWave from a hold rating to a buy rating and set a $1.50 target price on the stock in a research report on Wednesday, April 5th. Finally, CIBC cut shares of DragonWave from a sector perform rating to a sector underperform rating and set a $1.15 target price on the stock. in a research report on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $2.03.

Shares of DragonWave (DRWI) remained flat at $0.89 during trading on Thursday. The company had a trading volume of 149,351 shares. The stock’s market capitalization is $7.57 million. DragonWave has a 12-month low of $0.64 and a 12-month high of $5.18. The company has a 50 day moving average of $0.87 and a 200 day moving average of $1.33.

DragonWave (NASDAQ:DRWI) (TSE:DWI) last posted its earnings results on Wednesday, July 12th. The communications equipment provider reported ($0.52) EPS for the quarter. DragonWave had a negative return on equity of 2,435.89% and a negative net margin of 40.27%. The firm had revenue of $8.99 million for the quarter. Analysts anticipate that DragonWave will post ($1.80) EPS for the current fiscal year.

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An institutional investor recently bought a new position in DragonWave stock. Sabby Management LLC purchased a new stake in DragonWave Inc (NASDAQ:DRWI) (TSE:DWI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 466,696 shares of the communications equipment provider’s stock, valued at approximately $677,000. Sabby Management LLC owned approximately 7.65% of DragonWave as of its most recent filing with the SEC. Hedge funds and other institutional investors own 14.69% of the company’s stock.

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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