Aug. 3, 2017 2:31 PM ET|About: Sierra Wireless, Inc. (SWIR)|By: Jason Aycock, SA News Editor Sierra Wireless (SWIR -20.7%) is getting pummeled today -- worse than postmarket declines yesterday, and worse even than today's premarket trading (where it was down 10.5% prior to the open).
The company beat expectations with its Q2 while announcing it would pay a 17.5% premium in a $107M acquisition of Internet-of-Things firm Numerex.
Scotiabank downgraded the stock to Underperform from a previous sector perform, and set a C$23 price target. Shares are trading at C$29.48 in Toronto on more than four times average volume.
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