Sierra Wireless (NASDAQ:SWIR) Sees Unusually-High Trading Volume

Shares of Sierra Wireless, Inc. (NASDAQ:SWIR – Get Rating) (TSE:SW) saw unusually-high trading volume on Tuesday . Approximately 35,134 shares changed hands during trading, a decline of 97% from the previous session’s volume of 1,123,829 shares.The stock last traded at $28.51 and had previously closed at $29.70.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SWIR shares. William Blair cut Sierra Wireless to a “market perform” rating in a research note on Wednesday. Roth Capital reissued a “downgrade” rating on shares of Sierra Wireless in a research note on Wednesday. Canaccord Genuity Group increased their price objective on Sierra Wireless from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, May 12th. Canaccord Genuity Group cut Sierra Wireless from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Craig Hallum reissued a “downgrade” rating on shares of Sierra Wireless in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $23.71.

Sierra Wireless Stock Performance

The firm has a fifty day moving average price of $23.86 and a 200 day moving average price of $19.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.33 and a current ratio of 1.79. The stock has a market cap of $1.20 billion, a PE ratio of -16.02, a price-to-earnings-growth ratio of 3.94 and a beta of 1.59.

Sierra Wireless (NASDAQ:SWIR – Get Rating) (TSE:SW) last issued its quarterly earnings data on Wednesday, May 11th. The communications equipment provider reported $0.16 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.27. Sierra Wireless had a negative return on equity of 8.87% and a negative net margin of 13.35%. The firm had revenue of $172.96 million during the quarter, compared to analyst estimates of $141.34 million. Research analysts forecast that Sierra Wireless, Inc. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sierra Wireless

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SWIR. Lazard Asset Management LLC purchased a new position in Sierra Wireless in the 1st quarter worth $49,000. Russell Investments Group Ltd. purchased a new position in Sierra Wireless in the 4th quarter worth $50,000. JPMorgan Chase & Co. purchased a new position in Sierra Wireless in the 1st quarter worth $63,000. National Bank of Canada FI purchased a new position in Sierra Wireless in the 4th quarter worth $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sierra Wireless by 157.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,490 shares of the communications equipment provider’s stock worth $113,000 after acquiring an additional 3,967 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

About Sierra Wireless

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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. It operates in two segments, IoT Solutions and Enterprise Solutions. The IoT Solutions segment offers cellular wireless IoT modules that provides original equipment manufacturers (OEMs) with 5G, 4G LTE, third generation/second generation, low power wide area, Wi-Fi, Bluetooth, and global navigation satellite system connectivity; embedded broadband solutions, including industrial-grade modules, which offers speed, bandwidth, and network performance for connecting to 5G and 4G networks; and IoT connectivity services.

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