Could Sierra Wireless, Inc. (SWIR) See a Reversal After Having Formed Several Months Multiple Bottom Chart Pattern

August 21, 2018 - By Nellie Rakes

Sierra Wireless, Inc. (NASDAQ:SWIR) Logo

The stock of Sierra Wireless, Inc. (SWIR) shows a multiple bottoms pattern with $18.12 target or 6.00 % below today’s $19.28 share price. The 7 months chart pattern indicates high risk for the $703.12 million company. It was reported on Aug, 21 by Finviz.com. If the $18.12 price target is reached, the company will be worth $42.19 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 decreased 0.13% or $0.025 during the last trading session, reaching $19.275. About 148,583 shares traded. Sierra Wireless, Inc. (NASDAQ:SWIR) has declined 34.25% since August 21, 2017 and is downtrending. It has underperformed by 46.82% the S&P500.

Analysts await Sierra Wireless, Inc. (NASDAQ:SWIR) to report earnings on November, 1. They expect $0.18 earnings per share, up 125.00 % or $0.10 from last year’s $0.08 per share. SWIR’s profit will be $6.57M for 26.77 P/E if the $0.18 EPS becomes a reality. After $0.03 actual earnings per share reported by Sierra Wireless, Inc. for the previous quarter, Wall Street now forecasts 500.00 % EPS growth.

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

Among 2 analysts covering Sierra Wireless Inc (NASDAQ:SWIR), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Sierra Wireless Inc had 3 analyst reports since March 27, 2018 according to SRatingsIntel. The firm has “Buy” rating by Roth Capital given on Tuesday, March 27. National Bank Canada downgraded the shares of SWIR in report on Thursday, May 31 to “Hold” rating.

More notable recent Sierra Wireless, Inc. (NASDAQ:SWIR) news were published by: Seekingalpha.com which released: “I Still Believe In Sierra Wireless” on July 27, 2018, also Fool.com with their article: “Should You Chase Sierra Wireless’ Post-Earnings Rally?” published on August 11, 2018, Benzinga.com published: “66 Biggest Movers From Friday” on August 06, 2018. More interesting news about Sierra Wireless, Inc. (NASDAQ:SWIR) were released by: Fool.com and their article: “Sierra Wireless Finally Shifts Into a Higher Gear” published on August 21, 2018 as well as Globenewswire.com‘s news article titled: “Investor Expectations to Drive Momentum within Central European Media Enterprises, Canadian Solar, Sierra Wireless …” with publication date: August 20, 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 $703.12 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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