Shares of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) rose 10.1% during trading on Monday after TD Securities raised their price target on the stock from $18.00 to $20.00. TD Securities currently has a hold rating on the stock. Sierra Wireless traded as high as $15.08 and last traded at $14.93. Approximately 899 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 297,354 shares. The stock had previously closed at $13.56.
Other analysts have also issued research reports about the company. B. Riley initiated coverage on Sierra Wireless in a research note on Thursday, January 14th. They issued a “buy” rating and a $23.50 price target for the company. TheStreet raised Sierra Wireless from a “d+” rating to a “c-” rating in a research note on Tuesday, February 16th. BMO Capital Markets raised their price objective on Sierra Wireless from $13.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, February 24th. They noted that the move was a valuation call. National Bank of Canada raised their price objective on Sierra Wireless from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Monday, January 25th. Finally, Zacks Investment Research lowered Sierra Wireless from a “hold” rating to a “sell” rating in a research report on Thursday, May 13th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Sierra Wireless presently has a consensus rating of “Hold” and an average price target of $19.46.
Several institutional investors and hedge funds have recently bought and sold shares of the company. State of Wisconsin Investment Board raised its position in shares of Sierra Wireless by 3.7% in the 1st quarter. State of Wisconsin Investment Board now owns 234,600 shares of the communications equipment provider’s stock worth $3,465,000 after purchasing an additional 8,300 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Sierra Wireless in the 1st quarter worth about $184,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Sierra Wireless in the 1st quarter worth about $199,000. Lynrock Lake LP raised its position in shares of Sierra Wireless by 300.0% in the 1st quarter. Lynrock Lake LP now owns 146,666 shares of the communications equipment provider’s stock worth $2,166,000 after purchasing an additional 110,000 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Sierra Wireless by 918.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 655,956 shares of the communications equipment provider’s stock worth $9,689,000 after purchasing an additional 591,538 shares during the last quarter. 46.44% of the stock is owned by hedge funds and other institutional investors.
The firm has a fifty day moving average of $14.85 and a 200 day moving average of $15.55. The company has a market capitalization of $553.37 million, a P/E ratio of -8.93 and a beta of 2.36. The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 0.16.
Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last released its quarterly earnings data on Thursday, May 13th. The communications equipment provider reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.11. Sierra Wireless had a negative return on equity of 14.35% and a negative net margin of 10.39%. Sell-side analysts anticipate that Sierra Wireless, Inc. will post -1.78 EPS for the current fiscal year.
About Sierra Wireless (NASDAQ:SWIR)
Sierra Wireless, Inc, together with its subsidiaries, provides device-to-cloud Internet of Things (IoT) solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The IoT Solutions segment offers recurring connectivity services, cloud management software, and cellular modules and gateways.
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