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 report released 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 Horizon® 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 lifted their price target on shares of DragonWave, Inc.(USA) from $1.50 to $1.70 in a research note on Wednesday, March 15th.

Shares of DragonWave, Inc (NASDAQ:DRWI) remained flat at $1.35 during midday trading on Monday. 282,197 shares of the stock traded hands. DragonWave, Inc has a one year low of $1.00 and a one year high of $10.66. The company’s market capitalization is $8.24 million. The stock has a 50-day moving average price of $1.48 and a 200-day moving average price of $2.49.

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

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DragonWave, Inc.(USA) Company Profile

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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