NEW YORK (TheStreet) -- Aviat Networks
(AVNW - Get Report) stock is tumbling on Wednesday after reporting third-quarter revenue below consensus and a net loss wider than analysts expected.
By midafternoon, shares of the nano-cap had plummeted 28.2% to $1.07.
Over the three months to March, the company reported a net loss of 16 cents a share, 10 cents wider than analysts surveyed by Thomson Reuters anticipated. Revenue of $81.4 million fell short of estimates of $95.9 million.
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TheStreet Ratings team rates AVIAT NETWORKS INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate AVIAT NETWORKS INC (AVNW) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins, weak operating cash flow and generally disappointing historical performance in the stock itself."
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