Price/Volume Surge: Powerwave (PWAV)

Posted in General 
October 31st, 2008

Powerwave Technologies Inc. (NASDAQ: PWAV) is getting creamed in the early trading.  Shares are down 45% at $0.99 right after the open.  There have been 1.8 million shares trade by 9:35 AM EST and the average daily volume is only about 2.3 million shares.  This is a severe 52-week low as the prior range had been $1.78 to $5.52.

Yesterday the company posted $0.08 non-GAAP EPS and $238 million in revenues, which was growth and above plan.  After items the company’s net result was a loss.  Powerwave was cut to “Neutral” at Baird this morning.

Jon C. Ogg
October 31, 2008 (9:35 AM EST)

Comments are closed

-->