Zacks Investment Research upgraded shares of DragonWave Inc. (NASDAQ:DRWI) from a sell rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “DragonWave is a leading provider of high-capacity packet microwave solutions that drive next-generation IP networks. DragonWave’s carrier-grade point-to-point packet microwave systems transmit broadband voice, video and data, enabling service providers, government agencies, enterprises and other organizations to meet their increasing bandwidth requirements rapidly and affordably. The principal application of DragonWave’s products is wireless network backhaul. Additional solutions include leased line replacement, last mile fiber extension and enterprise networks. DragonWave’s award winning HorizonĀ® solutions are known in the industry for their leading capacity, reliability, and spectral efficiency. The company has a network of distributor and reseller partners globally. Customers include Carriers, Service Providers, Utilities, WISP’s and Enterprises. DragonWave’s corporate headquarters is located in Ottawa, Ontario, with sales locations in Europe, the Middle East and North America. “

A number of other research firms have also recently commented on DRWI. Desjardins cut DragonWave from a hold rating to a sell rating in a report on Saturday, May 21st. Rodman & Renshaw started coverage on DragonWave in a report on Tuesday, September 6th. They issued a buy rating and a $4.00 price objective on the stock.

DragonWave (NASDAQ:DRWI) opened at 2.72 on Wednesday. DragonWave has a one year low of $1.50 and a one year high of $10.66. The stock’s market capitalization is $9.86 million. The stock has a 50 day moving average price of $3.01 and a 200-day moving average price of $4.23.

DragonWave (NASDAQ:DRWI) last issued its earnings results on Wednesday, July 13th. The company reported ($1.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.85) by $0.38. The company had revenue of $12.50 million for the quarter. DragonWave had a negative return on equity of 258.11% and a negative net margin of 55.79%. Analysts anticipate that DragonWave will post ($3.49) earnings per share for the current year.

About DragonWave

DragonWave Inc (DragonWave) is a provider of packet microwave solutions for Internet protocol (IP) networks. The Company operates through broadband wireless backhaul equipment segment. The principal application of DragonWave’s products is mobile network backhaul. Additional applications include leased line replacement, last mile fiber extension and enterprise networks.

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