Sierra Wireless (NASDAQ:SWIR) Stock Price Up 5.6%


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Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) rose 5.6% during trading on Thursday . The stock traded as high as $14.65 and last traded at $14.61. Approximately 323,192 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 298,839 shares. The stock had previously closed at $13.84.

SWIR has been the subject of several recent research reports. Raymond James set a $13.00 price objective on shares of Sierra Wireless and gave the company a “market perform” rating in a research report on Friday, November 13th. Zacks Investment Research raised shares of Sierra Wireless from a “sell” rating to a “hold” rating in a research report on Saturday, December 12th. ValuEngine downgraded shares of Sierra Wireless from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 6th. Canaccord Genuity reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Sierra Wireless in a research report on Friday, November 13th. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Sierra Wireless in a research report on Monday, October 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Sierra Wireless presently has a consensus rating of “Hold” and a consensus price target of $13.00.

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.25 and a quick ratio of 0.93. The firm has a market cap of $533.15 million, a price-to-earnings ratio of -7.65 and a beta of 2.37. The business’s 50-day moving average price is $13.72 and its two-hundred day moving average price is $11.67.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last released its quarterly earnings results on Thursday, November 12th. The communications equipment provider reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.10). Sierra Wireless had a negative return on equity of 11.20% and a negative net margin of 10.68%. The company had revenue of $113.37 million for the quarter, compared to analyst estimates of $156.40 million. Equities analysts predict that Sierra Wireless, Inc. will post -1.37 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC bought a new position in Sierra Wireless during the third quarter worth $193,000. Polar Asset Management Partners Inc. lifted its stake in Sierra Wireless by 16.4% in the third quarter. Polar Asset Management Partners Inc. now owns 2,004,437 shares of the communications equipment provider’s stock valued at $29,786,000 after buying an additional 282,622 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in Sierra Wireless by 42.6% in the third quarter. Segall Bryant & Hamill LLC now owns 864,106 shares of the communications equipment provider’s stock valued at $9,644,000 after buying an additional 258,222 shares during the last quarter. Brandes Investment Partners LP lifted its stake in Sierra Wireless by 31.2% in the third quarter. Brandes Investment Partners LP now owns 373,357 shares of the communications equipment provider’s stock valued at $4,167,000 after buying an additional 88,779 shares during the last quarter. Finally, Trigran Investments Inc. lifted its stake in Sierra Wireless by 6.4% in the third quarter. Trigran Investments Inc. now owns 5,127,014 shares of the communications equipment provider’s stock valued at $57,217,000 after buying an additional 306,326 shares during the last quarter. Hedge funds and other institutional investors own 45.53% of the company’s stock.

About Sierra Wireless (NASDAQ:SWIR)

Sierra Wireless, Inc, together with its subsidiaries, provides device-to-cloud Internet Of Things (IoT) solutions primarily in North America, Europe, and the Asia Pacific. The company operates through two segments, IoT Solutions and Embedded Broadband. The IoT Solutions segment offers recurring connectivity services, cloud management software, and cellular modules and gateways.

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