Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) was the target of a large increase in short interest in August. As of August 15th, there was short interest totalling 782,962 shares, an increase of 53.3% from the July 31st total of 510,743 shares. Approximately 2.5% of the company’s stock are sold short. Based on an average daily volume of 931,289 shares, the short-interest ratio is presently 0.8 days.

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Sierra Wireless by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 96,258 shares of the communications equipment provider’s stock valued at $1,511,000 after buying an additional 10,541 shares in the last quarter. Norges Bank acquired a new stake in Sierra Wireless during the fourth quarter valued at approximately $2,563,000. Acadian Asset Management LLC acquired a new stake in Sierra Wireless during the first quarter valued at approximately $551,000. Janney Montgomery Scott LLC acquired a new stake in Sierra Wireless during the first quarter valued at approximately $735,000. Finally, Hennessy Advisors Inc. acquired a new stake in Sierra Wireless during the first quarter valued at approximately $4,176,000. Institutional investors and hedge funds own 25.10% of the company’s stock.

A number of analysts have commented on SWIR shares. TheStreet raised Sierra Wireless from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Sierra Wireless from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Thursday, May 11th. Scotiabank lifted their target price on Sierra Wireless from $20.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, May 5th. Royal Bank Of Canada lifted their target price on Sierra Wireless from $19.00 to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 3rd. Finally, BidaskClub lowered Sierra Wireless from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued 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 a consensus price target of $25.50.

Shares of Sierra Wireless (NASDAQ:SWIR) opened at 21.40 on Thursday. Sierra Wireless has a one year low of $12.30 and a one year high of $31.95. The company has a 50 day moving average price of $26.42 and a 200 day moving average price of $27.00. The company has a market cap of $683.71 million, a price-to-earnings ratio of 33.59 and a beta of 3.02.

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About Sierra Wireless

Sierra Wireless, Inc is engaged in building the Internet of Things (IoT) with wireless solutions for organizations. The Company’s OEM Solution segment offers cellular embedded wireless modules for IoT connectivity, including an embedded application framework to support customer applications. The Company’s Enterprise Solution segment offers intelligent routers and gateways, including management tools and applications that enable cellular connectivity.

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