The stock of Sierra Wireless, Inc. (NASDAQ:SWIR) is now priced at $9.37 and the shares are -0.08 points down or -0.85% lower compared to its previous closing price of $9.45. The stock had 97139 contracts set over the past session. SWIR shares’ daily volume is compared to its average trading volume at 264341 shares. However, it has a float of 36.11 million and although its performance was 8.5% over the week, it’s one to watch. Analysts have given the SWIR stock a yearly average price target of $10.11 per share. It means the stock’s upside potential is 7.9% with the SWIR share price recently placing at $9.2 to $9.51. However, some brokerage firms have priced the stock below the average, including one that has called $7.5.
The shorts are climbing into the Sierra Wireless, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the SWIR shares have risen. Short interest in the stock represents just 4.47% of its float, but the volume has raised by 114704. The volume of shorted shares rised to 1.614 million from 1.499 million shares over the last two weeks. The average intraday trading volume has been 196367 shares, which means that days to cover moved to roughly 8.219752.
In the last trading session, Sierra Wireless, Inc. (NASDAQ:SWIR) raised by $0.48 over the week and gained $0.41 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $12.28. The stock recorded its established 52-week high on 08/01/19.
Since 03/18/20, the stock has traded to a low of $4.31 at 117.4%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.25. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Sierra Wireless, Inc.’s two-week RSI is 59.81. This suggests that the stock is neutral at the moment and that SWIR shares’ price movement remains stable. The stochastic readings are equally revealing at 87.1% meaning the SWIR share price is currently in oversold territory.
The technical chart shows that the SWIR stock will likely settle at between $9.57 and $9.7 per share. However, if the stock dips below $9.26, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $9.08.
Currently, the stock is trading in the green of MACD, with a reading of 0.38. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Raymond James cut their recommendation for SWIR from Outperform to Mkt Perform in November 06 review. Macquarie analysts downgraded their recommendation of the stock from Neutral to Underperform in a flash note released to investors on February 14. First Analysis Sec seeing the stock struggling downgraded it from Outperform to Neutral on February 14 placing it at $25 to $12.
The average rating for the SWIR equity is 2.78 and is currently gathering a bullish momentum. Of 9 analysts tracking Sierra Wireless, Inc. polled by Reuters, 6 rated SWIR as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the SWIR stocks P/S ratio currently stands below the group’s average of 33.8. Sierra Wireless, Inc. has its P/E ratio at 1, which means that the stock is currently trading at a discount relative to the 3.7 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Sierra Wireless, Inc. (NASDAQ:SWIR) will decrease by about -99.93%, which will see them reach $143.59 million. The company’s full-year revenues are, however, expected to diminish by about -11.87%, down from $713.51 million to $628.84 million. SWIR’s expected adjusted earnings should drop almost -571.43% to end up at -$0.33 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 9900% to record -$1/share.