Sierra Wireless Target of Unusually High Options Trading (NASDAQ:SWIR)

Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) was the recipient of unusually large options trading on Thursday. Stock investors purchased 688 call options on the stock. This is an increase of 1,129% compared to the average volume of 56 call options.

Shares of SWIR opened at $14.89 on Friday. The business’s 50-day moving average is $14.88 and its two-hundred day moving average is $15.47. The company has a market capitalization of $549.31 million, a P/E ratio of -8.86 and a beta of 2.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.39 and a current ratio of 1.55. Sierra Wireless has a fifty-two week low of $7.73 and a fifty-two week high of $22.22.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last announced its quarterly earnings results on Thursday, May 13th. The communications equipment provider reported ($0.26) earnings per share 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%. Analysts forecast that Sierra Wireless will post -1.78 EPS for the current year.

A number of research analysts have recently commented on the company. TD Securities upped their target price on Sierra Wireless from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Friday. National Bank Financial lowered Sierra Wireless from a “sector perform” rating to an “underperform” rating and upped their target price for the stock from $13.00 to $15.00 in a report on Monday, January 25th. Roth Capital upped their price target on Sierra Wireless from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, January 25th. TheStreet raised Sierra Wireless from a “d+” rating to a “c-” rating in a research report on Tuesday, February 16th. Finally, Royal Bank of Canada upped their price target on Sierra Wireless from $13.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 16th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $19.46.

Several hedge funds have recently bought and sold shares of SWIR. Brandes Investment Partners LP boosted its stake in shares of Sierra Wireless by 762.2% during the 4th quarter. Brandes Investment Partners LP now owns 3,218,988 shares of the communications equipment provider’s stock worth $44,577,000 after acquiring an additional 2,845,631 shares in the last quarter. FMR LLC boosted its stake in shares of Sierra Wireless by 492.1% during the 1st quarter. FMR LLC now owns 358,200 shares of the communications equipment provider’s stock worth $4,423,000 after acquiring an additional 297,700 shares in the last quarter. State of Wisconsin Investment Board purchased a new stake in shares of Sierra Wireless during the 4th quarter worth about $3,306,000. Heartland Advisors Inc. purchased a new stake in shares of Sierra Wireless during the 4th quarter worth about $2,922,000. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Sierra Wireless during the 1st quarter worth about $1,717,000. 46.44% of the stock is currently owned by institutional investors and hedge funds.

About Sierra Wireless

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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