Sierra Wireless, Inc. (NASDAQ:SWIR) Short Interest Update

Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) saw a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 486,722 shares, a drop of 34.5% from the November 30th total of 743,482 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily volume of 281,040 shares, the short-interest ratio is presently 1.7 days.

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in Sierra Wireless by 16.0% in the third quarter. Bank of New York Mellon Corp now owns 1,715,805 shares of the communications equipment provider’s stock worth $36,891,000 after purchasing an additional 236,807 shares during the period. Heathbridge Capital Management Ltd. boosted its holdings in Sierra Wireless by 3.8% in the third quarter. Heathbridge Capital Management Ltd. now owns 750,200 shares of the communications equipment provider’s stock worth $16,129,000 after purchasing an additional 27,300 shares during the period. Vanguard Group Inc. boosted its holdings in Sierra Wireless by 3.1% in the second quarter. Vanguard Group Inc. now owns 629,686 shares of the communications equipment provider’s stock worth $17,694,000 after purchasing an additional 19,014 shares during the period. Renaissance Technologies LLC boosted its holdings in Sierra Wireless by 27.8% in the second quarter. Renaissance Technologies LLC now owns 609,884 shares of the communications equipment provider’s stock worth $17,138,000 after purchasing an additional 132,701 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its holdings in Sierra Wireless by 125.3% in the second quarter. Hillsdale Investment Management Inc. now owns 295,967 shares of the communications equipment provider’s stock worth $8,315,000 after purchasing an additional 164,610 shares during the period. 20.98% of the stock is owned by hedge funds and other institutional investors.

Shares of Sierra Wireless (NASDAQ SWIR) opened at $19.55 on Thursday. Sierra Wireless has a 1 year low of $15.75 and a 1 year high of $31.95. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.54 and a current ratio of 1.92. The firm has a market cap of $629.89, a P/E ratio of 27.54 and a beta of 3.17.

SWIR has been the topic of several analyst reports. Raymond James Financial raised shares of Sierra Wireless from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, November 27th. BidaskClub cut shares of Sierra Wireless from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 19th. Scotiabank increased their price objective on shares of Sierra Wireless from $23.00 to $31.00 and gave the stock a “sector perform” rating in a report on Friday, November 3rd. TD Securities cut their price objective on shares of Sierra Wireless from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, November 3rd. Finally, BMO Capital Markets reiterated a “hold” rating and set a $26.00 price objective on shares of Sierra Wireless in a report on Monday, November 6th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.95.

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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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