What’s Next for Sierra Wireless, Inc. (SWIR) After Forming Multiple Bottom Chart Pattern?

July 27, 2018 - By Kristin Houston

Sierra Wireless, Inc. (NASDAQ:SWIR) Logo

The stock of Sierra Wireless, Inc. (SWIR) shows a multiple bottoms pattern with $15.77 target or 5.00 % below today’s $16.60 share price. The 7 months chart pattern indicates high risk for the $602.26 million company. It was reported on Jul, 27 by Finviz.com. If the $15.77 price target is reached, the company will be worth $30.11 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.61% or $0.1 during the last trading session, reaching $16.6. About 122,302 shares traded. Sierra Wireless, Inc. (NASDAQ:SWIR) has declined 34.25% since July 27, 2017 and is downtrending. It has underperformed by 46.82% the S&P500.

Analysts await Sierra Wireless, Inc. (NASDAQ:SWIR) to report earnings on August, 2 after the close. They expect $0.14 EPS, down 33.33 % or $0.07 from last year’s $0.21 per share. SWIR’s profit will be $5.08 million for 29.64 P/E if the $0.14 EPS becomes a reality. After $0.01 actual EPS reported by Sierra Wireless, Inc. for the previous quarter, Wall Street now forecasts 1,300.00 % EPS growth.

Sierra Wireless, Inc. (NASDAQ:SWIR) Ratings Coverage

Among 6 analysts covering Sierra Wireless Inc (NASDAQ:SWIR), 2 have Buy rating, 0 Sell and 4 Hold. Therefore 33% are positive. Sierra Wireless Inc has $28.0 highest and $20.0 lowest target. $23.20’s average target is 39.76% above currents $16.6 stock price. Sierra Wireless Inc had 8 analyst reports since February 6, 2018 according to SRatingsIntel. Canaccord Genuity maintained it with “Buy” rating and $28.0 target in Thursday, February 8 report. The firm has “Buy” rating given on Tuesday, March 27 by Roth Capital. The stock of Sierra Wireless, Inc. (NASDAQ:SWIR) earned “Hold” rating by BMO Capital Markets on Friday, February 9. The stock of Sierra Wireless, Inc. (NASDAQ:SWIR) earned “Hold” rating by Scotia Capital on Friday, February 9. The stock has “Hold” rating by RBC Capital Markets on Tuesday, February 6. The firm earned “Hold” rating on Thursday, May 31 by National Bank Canada.

More notable recent Sierra Wireless, Inc. (NASDAQ:SWIR) news were published by: Businesswire.com which released: “Sierra Wireless Delivers FirstNet Readyâ„¢ LTE Router for Public Safety Applications” on June 28, 2018, also Businesswire.com with their article: “Sierra Wireless to Report Second Quarter 2018 Results on August 2, 2018” published on July 25, 2018, Investorplace.com published: “10 Stocks to Play a Trillion-Dollar IOT Space” on July 24, 2018. More interesting news about Sierra Wireless, Inc. (NASDAQ:SWIR) were released by: Nasdaq.com and their article: “Why Sierra Wireless Stock Has Plummeted 17% in 2018” published on July 16, 2018 as well as Fool.ca‘s news article titled: “These Tech Investments Will Fire Up Your Portfolio’s Growth” with publication date: July 23, 2018.

Sierra Wireless, Inc., together with its subsidiaries, engages in building the Internet of Things with intelligent wireless solutions in North America, Europe, and the Asia Pacific. The company has market cap of $602.26 million. It operates in three divisions: Original Equipment Manufacturer (OEM) Solutions, Enterprise Solutions, and Cloud and Connectivity Services. It currently has negative earnings. The OEM Solutions segment offers embedded cellular modules, short range wireless modules, software, and tools to integrate wireless connectivity into various products and solutions for OEM customers, including the embedded wireless modules product portfolio; and Legato, an open source, Linux application framework.

Sierra Wireless, Inc. (NASDAQ:SWIR) Ratings Chart

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