Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totalling 486,722 shares, a drop of 34.5% from the November 30th total of 743,482 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily volume of 281,040 shares, the short-interest ratio is presently 1.7 days.
Sierra Wireless (NASDAQ:SWIR) opened at $20.45 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.92 and a quick ratio of 1.54. Sierra Wireless has a 1-year low of $15.55 and a 1-year high of $31.95. The company has a market cap of $668.56, a PE ratio of 28.80 and a beta of 3.16.
Several large investors have recently made changes to their positions in SWIR. Legal & General Group Plc lifted its holdings in shares of Sierra Wireless by 5.1% in the 2nd quarter. Legal & General Group Plc now owns 4,098 shares of the communications equipment provider’s stock valued at $115,000 after acquiring an additional 198 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Sierra Wireless in the 2nd quarter valued at about $231,000. JPMorgan Chase & Co. bought a new position in shares of Sierra Wireless in the 2nd quarter valued at about $136,000. Pier Capital LLC bought a new position in shares of Sierra Wireless in the 2nd quarter valued at about $5,757,000. Finally, Wells Fargo & Company MN lifted its stake in Sierra Wireless by 32.6% in the second quarter. Wells Fargo & Company MN now owns 25,201 shares of the communications equipment provider’s stock worth $708,000 after purchasing an additional 6,200 shares during the last quarter. 20.98% of the stock is owned by hedge funds and other institutional investors.
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Sierra Wireless Company Profile
Sierra Wireless, Inc is engaged in building the Internet of Things (IoT) with wireless solutions for organizations. The Company’s OEM Solution segment offers cellular embedded wireless modules for IoT connectivity, including an embedded application framework to support customer applications. The Company’s Enterprise Solution segment offers intelligent routers and gateways, including management tools and applications that enable cellular connectivity.
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