Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Other analysts have also recently issued reports about the company. Zacks Investment Research raised Sierra Wireless from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Thursday, May 11th. TheStreet cut Sierra Wireless from a “b-” rating to a “c” rating in a research report on Thursday, May 4th. BMO Capital Markets set a $30.00 target price on Sierra Wireless and gave the company a “hold” rating in a research report on Saturday, May 6th. TD Securities started coverage on Sierra Wireless in a research report on Tuesday, May 30th. They issued a “hold” rating for the company. Finally, Benchmark Co. started coverage on Sierra Wireless in a research report on Tuesday, April 25th. They issued a “hold” rating for the company. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.20.

Sierra Wireless (SWIR) traded up 8.654% during midday trading on Wednesday, hitting $25.425. The company had a trading volume of 1,131,273 shares. The firm has a 50-day moving average price of $29.28 and a 200-day moving average price of $26.44. Sierra Wireless has a 12 month low of $12.30 and a 12 month high of $31.95. The company has a market cap of $811.44 million, a price-to-earnings ratio of 56.250 and a beta of 3.02.

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A number of hedge funds have recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in Sierra Wireless by 85.7% in the first quarter. Legal & General Group Plc now owns 3,900 shares of the communications equipment provider’s stock worth $103,000 after buying an additional 1,800 shares during the last quarter. Quantbot Technologies LP bought a new stake in Sierra Wireless during the first quarter worth $147,000. Creative Planning boosted its stake in Sierra Wireless by 13.0% in the second quarter. Creative Planning now owns 6,880 shares of the communications equipment provider’s stock worth $193,000 after buying an additional 790 shares during the last quarter. HighTower Advisors LLC bought a new stake in Sierra Wireless during the first quarter worth $200,000. Finally, Global X Management Co. LLC boosted its stake in Sierra Wireless by 376.8% in the first quarter. Global X Management Co. LLC now owns 9,379 shares of the communications equipment provider’s stock worth $248,000 after buying an additional 7,412 shares during the last quarter. 24.39% of the stock is owned by institutional investors.

About Sierra Wireless

Sierra Wireless, Inc is engaged in building the Internet of Things (IoT) with wireless solutions for organizations. The Company’s OEM Solution segment offers cellular embedded wireless modules for IoT connectivity, including an embedded application framework to support customer applications. The Company’s Enterprise Solution segment offers intelligent routers and gateways, including management tools and applications that enable cellular connectivity.

Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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