DragonWave Inc. (DRWI) Research Coverage Started at Rodman & Renshaw
Equities research analysts at Rodman & Renshaw assumed coverage on shares of DragonWave Inc. (NASDAQ:DRWI) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating and a $4.00 price target on the stock. Rodman & Renshaw’s target price suggests a potential upside of 32.12% from the company’s current price.
DragonWave (NASDAQ:DRWI) opened at 3.0276 on Tuesday. The stock’s market capitalization is $10.98 million. The firm’s 50-day moving average is $3.55 and its 200 day moving average is $4.14. DragonWave has a 12-month low of $1.50 and a 12-month high of $10.66.
DragonWave (NASDAQ:DRWI) last released its quarterly earnings results on Wednesday, July 13th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.85) by $0.38. The firm had revenue of $12.50 million for the quarter. Equities research analysts anticipate that DragonWave will post ($4.51) earnings per share for the current year.
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DRWI has been the subject of several other research reports. Desjardins lowered shares of DragonWave from a “hold” rating to a “sell” rating in a research report on Saturday, May 21st. Zacks Investment Research lowered shares of DragonWave from a “hold” rating to a “sell” rating in a research report on Wednesday, July 20th.
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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