Powerwave Breaks to New Highs

Powerwave Technologies Inc. (PWAV) advanced 8 percent to $2.77 after rising to $2.85 earlier, the highest intraday price since December 21, 2010.

Stock is seeing some good volume on this current climb as it lifts up to probe its October 14, 2008 range high near the $3.00 area. There is also a 3-week ticker consolidation in place at this point, so there could be further squeeze higher (if the bulls can sustain the buying that is) from current levels, putting the $3.00 area into play.

Today’s trading range for shares of Powerwave Technologies Inc has been between $2.60 and $2.88 per share. The stock currently trades at a negative EPS of $0.04, a forward multiple of 12.86 and a P/E to Growth ratio of 0.62.

The median Wall Street price target on the security is $2.00 with a high target of $2.25.

Volume of 1.5 million shares is already approaching the daily average volume of 1.9 million shares.

Santa Ana, Calif. – based Powerwave Technologies, Inc. is a company that engages in the design, manufacture, marketing, and sale of wireless solutions for wireless communications networks worldwide.

Disclosure: No Position

About Ron Haruni 1036 Articles
Ron is the Co-Founder & Editor in Chief of Wall Street Pit. Web Site: Wall Street Pit

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