Ruckus Wireless Stock Price Down 1% Following Insider Selling (RKUS)
Posted by Kristian Gore on May 20th, 2014
Ruckus Wireless logoRuckus Wireless (NASDAQ:RKUS) traded down 1% on Tuesday following insider selling activity, AR Network reports. The companytraded as low as $9.01 and last traded at $9.20, with a volume of 684,569 shares changing hands. The stock had previously closed at $9.29.
Specifically, CTO William S.A. Kish unloaded 40,000 shares of Ruckus Wireless stock on the open market in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $9.02, for a total transaction of $360,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on RKUS shares. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Ruckus Wireless in a research note on Thursday, May 1st. They now have a $13.00 price target on the stock. Separately, analysts at Oppenheimer cut their price target on shares of Ruckus Wireless from $18.00 to $16.00 in a research note on Thursday, May 1st. They now have an “outperform” rating on the stock. Finally, analysts at Needham & Company LLC cut their price target on shares of Ruckus Wireless from $17.00 to $15.00 in a research note on Thursday, May 1st. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. Ruckus Wireless currently has a consensus rating of “Buy” and an average target price of $14.83.
The stock has a 50-day moving average of $10.3 and a 200-day moving average of $12.77. The company has a market cap of $754.0 million and a P/E ratio of 464.50.
Ruckus Wireless (NASDAQ:RKUS) last announced its earnings results on Wednesday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $75.10 million for the quarter, compared to the consensus estimate of $72.21 million. On average, analysts predict that Ruckus Wireless will post $0.21 earnings per share for the current fiscal year.
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