Traders Purchase Large Volume of Sierra Wireless Call Options (NASDAQ:SWIR)

Sierra Wireless, Inc. (NASDAQ:SWIRGet Rating) (TSE:SW) was the recipient of unusually large options trading on Wednesday. Investors purchased 9,808 call options on the company. This is an increase of approximately 196% compared to the typical volume of 3,313 call options.

Sierra Wireless Stock Performance

Shares of NASDAQ SWIR opened at $30.59 on Friday. The business has a fifty day simple moving average of $24.03 and a 200 day simple moving average of $19.50. The company has a current ratio of 1.79, a quick ratio of 1.33 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -15.93, a PEG ratio of 3.73 and a beta of 1.59. Sierra Wireless has a one year low of $13.44 and a one year high of $30.80.

Sierra Wireless (NASDAQ:SWIRGet Rating) (TSE:SW) last issued its earnings results on Wednesday, May 11th. The communications equipment provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.27. The business had revenue of $172.96 million during the quarter, compared to analyst estimates of $141.34 million. Sierra Wireless had a negative return on equity of 8.87% and a negative net margin of 13.35%. Sell-side analysts expect that Sierra Wireless will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

SWIR has been the subject of a number of recent analyst reports. TD Securities cut Sierra Wireless from a “hold” rating to a “tender” rating and upped their target price for the stock from $22.00 to $31.00 in a research report on Thursday. Craig Hallum reissued a “downgrade” rating on shares of Sierra Wireless in a research report on Wednesday. Royal Bank of Canada increased their price objective on Sierra Wireless from $28.00 to $31.00 and gave the company a “sector perform” rating in a research report on Wednesday. Canaccord Genuity Group cut Sierra Wireless from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, B. Riley cut Sierra Wireless from a “buy” rating to a “neutral” rating and increased their price objective for the company from $27.50 to $31.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Sierra Wireless presently has a consensus rating of “Hold” and an average price target of $25.75.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Lisanti Capital Growth LLC acquired a new position in Sierra Wireless during the second quarter worth $3,310,000. Capital Wealth Alliance LLC acquired a new position in Sierra Wireless during the second quarter worth $1,360,000. Calamos Advisors LLC acquired a new position in Sierra Wireless during the second quarter worth $2,250,000. Russell Investments Group Ltd. acquired a new position in Sierra Wireless during the second quarter worth $3,140,000. Finally, National Bank of Canada FI raised its stake in Sierra Wireless by 387.4% during the second quarter. National Bank of Canada FI now owns 20,542 shares of the communications equipment provider’s stock worth $469,000 after acquiring an additional 16,327 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

About Sierra Wireless

(Get Rating)

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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