Shares of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) were down 7.1% during trading on Tuesday . The company traded as low as $20.23 and last traded at $20.35. Approximately 1,338,970 shares were traded during mid-day trading, an increase of 318% from the average daily volume of 320,581 shares. The stock had previously closed at $21.90.

A number of analysts have recently commented on SWIR shares. Howard Weil raised shares of Sierra Wireless to a “sector perform” rating and set a $23.00 price objective on the stock in a research report on Thursday, September 21st. They noted that the move was a valuation call. Scotiabank boosted their price objective on shares of Sierra Wireless from $23.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday. Zacks Investment Research raised shares of Sierra Wireless from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. BMO Capital Markets reissued a “hold” rating and issued a $26.00 price objective on shares of Sierra Wireless in a research report on Monday. Finally, BidaskClub lowered shares of Sierra Wireless from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $26.95.

The company has a quick ratio of 1.54, a current ratio of 1.92 and a debt-to-equity ratio of 0.09. The stock has a market cap of $636.38, a PE ratio of 20.28 and a beta of 3.21.

Several institutional investors and hedge funds have recently modified their holdings of SWIR. Legal & General Group Plc raised its position in shares of 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 valued at $103,000 after purchasing an additional 1,800 shares during the period. JPMorgan Chase & Co. bought a new position in shares of Sierra Wireless in the second quarter valued at about $136,000. Creative Planning raised its position in shares of Sierra Wireless by 13.0% in the second quarter. Creative Planning now owns 6,880 shares of the communications equipment provider’s stock valued at $193,000 after purchasing an additional 790 shares during the period. HighTower Advisors LLC bought a new position in shares of Sierra Wireless in the first quarter valued at about $200,000. Finally, Shell Asset Management Co. raised its position in shares of Sierra Wireless by 149.0% in the third quarter. Shell Asset Management Co. now owns 7,307 shares of the communications equipment provider’s stock valued at $219,000 after purchasing an additional 4,373 shares during the period. 24.91% of the stock is currently owned by institutional investors.

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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.

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