Boingo Wireless Inc (NASDAQ:WIFI) has received an average recommendation of “Buy” from the twelve analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $28.14.
Several brokerages recently commented on WIFI. Zacks Investment Research upgraded shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Saturday, August 3rd. Craig Hallum cut their price target on shares of Boingo Wireless from $29.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. BidaskClub downgraded shares of Boingo Wireless from a “sell” rating to a “strong sell” rating in a report on Saturday, June 29th. Northland Securities reiterated a “buy” rating on shares of Boingo Wireless in a report on Friday, August 2nd. Finally, Credit Suisse Group set a $28.00 price target on shares of Boingo Wireless and gave the company a “buy” rating in a report on Friday, August 2nd.
Shares of NASDAQ WIFI traded up $0.04 during mid-day trading on Friday, hitting $13.99. 18,231 shares of the company’s stock traded hands, compared to its average volume of 744,121. The company’s 50-day moving average is $13.01 and its two-hundred day moving average is $19.01. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $602.11 million, a P/E ratio of -466.33 and a beta of 1.02. Boingo Wireless has a 1 year low of $10.83 and a 1 year high of $35.98.
In other Boingo Wireless news, CFO Peter Hovenier sold 5,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $17.80, for a total value of $89,000.00. Following the transaction, the chief financial officer now directly owns 380,723 shares in the company, valued at approximately $6,776,869.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Finley bought 10,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $11.00 per share, for a total transaction of $110,000.00. Following the completion of the purchase, the chief executive officer now directly owns 61,873 shares in the company, valued at $680,603. The disclosure for this purchase can be found here. Insiders have sold a total of 139,226 shares of company stock worth $2,507,248 over the last quarter. 3.80% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Park West Asset Management LLC grew its stake in Boingo Wireless by 99.3% in the 2nd quarter. Park West Asset Management LLC now owns 685,700 shares of the technology company’s stock worth $12,322,000 after acquiring an additional 341,612 shares in the last quarter. Intrinsic Edge Capital Management LLC bought a new position in Boingo Wireless in the 2nd quarter worth about $10,879,000. Royal Bank of Canada grew its stake in Boingo Wireless by 20.8% in the 2nd quarter. Royal Bank of Canada now owns 619,764 shares of the technology company’s stock worth $11,138,000 after acquiring an additional 106,888 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Boingo Wireless in the 2nd quarter worth about $264,000. Finally, Nuveen Asset Management LLC bought a new position in Boingo Wireless in the 2nd quarter worth about $4,986,000.
About Boingo Wireless
Boingo Wireless, Inc, together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices worldwide. The company offers distributed antenna systems and small cell networks at managed and operated locations; high-speed Wi-Fi services for residential consumers on military bases and at multifamily properties; and wholesale Wi-Fi services to network operators, device manufacturers, technology companies, enterprise software and services companies, venue operators, and financial services companies, as well as retail Internet access services.
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