Stock Update (NASDAQ:DRWI): DragonWave, Inc.(USA) Signs Purchase Agreement for Technical Products and Related Services With Tier One North American Carrier
DragonWave, Inc.(USA) (NASDAQ:DRWI), a leading global supplier of packet microwave radio systems for mobile and access networks, today announced it has signed a Master Purchase Agreement for Technical Products and Related Services with a tier one North American carrier. This new agreement complements and expands current agreements between the two companies. In keeping with industry norms, the agreement does not include any volume commitments; it establishes the framework for future business from this important, long-standing customer.
“Securing a Master Purchase Agreement with a tier one carrier demands rigorous business and product performance standards,” saidDragonWave President and CEO Peter Allen. “The greatest affirmation from a customer is repeat business. We value our long-standing relationship with this major mobile operator and we look forward to contributing to its commitment to high-quality wireless solutions for its customers.”
DragonWave’s industry-leading microwave backhaul solutions offer a combination of 2048/4096 QAM modulation and the industry’s only bandwidth accelerator bulk-compression capability to deliver unsurpassed spectral efficiency and wireless capacity. The Company’s planning and services organization delivers the highest levels of expertise, network design, field surveys, installation and commissioning services. (Original Source)
Shares of Dragonwave closed yesterday at $0.73 . DRWI has a 1-year high of $2.55 and a 1-year low of $0.54. The stock’s 50-day moving average is $0.67 and its 200-day moving average is $0.91.
On the ratings front, TD Securities analyst Scott Penner maintained a Hold rating on DRWI, with a price target of $1.50, In a report issued on January 13. The current price target implies an upside of 105.5% from current levels, In a report issued on January 13. The current price target implies an upside of 105.5% from current levels
According to TipRanks.com, Penner has a total average return of -9.5%, a 0.0% success rate, and is ranked #3024 out of 3577 analysts.
DragonWave Inc is a provider of high-capacity packet microwave solutions that drive next-generation IP networks. Its products are wireless network backhaul.