DragonWave, Inc.(USA) (DRWI) Upgraded by Zacks Investment Research to “Hold”

DragonWave, Inc.(USA) (NASDAQ:DRWI) (TSE:DWI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “DragonWave is a leading provider of high-capacity packet microwave solutions that drive next-generation IP networks. DragonWave’s carrier-grade point-to-point packet microwave systems transmit broadband voice, video and data, enabling service providers, government agencies, enterprises and other organizations to meet their increasing bandwidth requirements rapidly and affordably. The principal application of DragonWave’s products is wireless network backhaul. Additional solutions include leased line replacement, last mile fiber extension and enterprise networks. DragonWave’s award winning HorizonĀ® solutions are known in the industry for their leading capacity, reliability, and spectral efficiency. The company has a network of distributor and reseller partners globally. Customers include Carriers, Service Providers, Utilities, WISP’s and Enterprises. DragonWave’s corporate headquarters is located in Ottawa, Ontario, with sales locations in Europe, the Middle East and North America. “

Separately, S&P Equity Research boosted their price objective on shares of DragonWave, Inc.(USA) from $1.50 to $1.70 in a research report on Wednesday, March 15th.

DragonWave, Inc (NASDAQ:DRWI) remained flat at $1.35 during midday trading on Monday. The company’s stock had a trading volume of 282,197 shares. The company’s 50 day moving average is $1.48 and its 200 day moving average is $2.49. DragonWave, Inc has a 12 month low of $1.00 and a 12 month high of $10.66. The stock’s market cap is $8.24 million.

DragonWave, Inc.(USA) (NASDAQ:DRWI) last announced its quarterly earnings data on Wednesday, January 11th. The company reported ($0.72) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.44. DragonWave, Inc.(USA) had a negative net margin of 44.35% and a negative return on equity of 911.00%. The company had revenue of $10.20 million for the quarter. On average, analysts forecast that DragonWave, Inc will post ($3.31) earnings per share for the current fiscal year.

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About DragonWave, Inc.(USA)

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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