Short Interest in Sierra Wireless, Inc. (NASDAQ:SWIR) Expands By 8.7%

Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 1,750,000 shares, an increase of 8.7% from the June 30th total of 1,610,000 shares. Currently, 4.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 270,800 shares, the days-to-cover ratio is currently 6.5 days.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in Sierra Wireless by 1,122.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,027,803 shares of the communications equipment provider’s stock valued at $9,816,000 after acquiring an additional 943,697 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Sierra Wireless during the fourth quarter worth $118,000. UBS Group AG grew its stake in Sierra Wireless by 297.5% during the first quarter. UBS Group AG now owns 23,807 shares of the communications equipment provider’s stock valued at $135,000 after acquiring an additional 17,818 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Sierra Wireless in the 1st quarter valued at $91,000. Finally, Morgan Stanley lifted its stake in Sierra Wireless by 240.2% in the 1st quarter. Morgan Stanley now owns 490,465 shares of the communications equipment provider’s stock worth $2,786,000 after purchasing an additional 346,313 shares in the last quarter. Hedge funds and other institutional investors own 43.41% of the company’s stock.

Shares of SWIR opened at $13.28 on Friday. Sierra Wireless has a fifty-two week low of $4.31 and a fifty-two week high of $14.37. The firm’s 50-day simple moving average is $9.40 and its two-hundred day simple moving average is $8.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.01 and a current ratio of 1.30.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last posted its quarterly earnings data on Thursday, May 7th. The communications equipment provider reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.08). Sierra Wireless had a negative net margin of 11.76% and a negative return on equity of 7.40%. The company had revenue of $157.58 million for the quarter, compared to the consensus estimate of $164.00 million. As a group, equities analysts expect that Sierra Wireless will post -1.31 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on SWIR shares. Raymond James set a $12.00 price objective on shares of Sierra Wireless and gave the stock a “market perform” rating in a report on Friday, July 24th. ValuEngine lowered Sierra Wireless from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 1st. BidaskClub raised Sierra Wireless from a “hold” rating to a “buy” rating in a report on Wednesday. TD Securities upped their target price on Sierra Wireless from $7.50 to $8.50 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Finally, Royal Bank of Canada increased their price target on shares of Sierra Wireless from $9.00 to $13.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $11.14.

Sierra Wireless Company Profile

Sierra Wireless, Inc, together with its subsidiaries, manufactures and sells cellular wireless devices, and provide services in the wireless communications and information technology industry in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its Original Equipment Manufacturer (OEM) Solutions segment offers embedded cellular modules, short range wireless modules, global navigation satellite system modules, software, and tools to integrate wireless connectivity into various products and solutions for OEM customers, including the embedded wireless modules product portfolio; cloud-based remote device and data management solutions; and Legato, an open source Linux-based platform.

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