Shares of Boingo Wireless Inc (NASDAQ:WIFI) dropped 7.1% on Friday . The stock traded as low as $11.80 and last traded at $11.85, approximately 822,820 shares changed hands during trading. An increase of 33% from the average daily volume of 618,152 shares. The stock had previously closed at $12.76.
WIFI has been the subject of several analyst reports. Zacks Investment Research upgraded Boingo Wireless from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Saturday, August 3rd. Craig Hallum dropped their target price on Boingo Wireless from $29.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Northland Securities restated a “buy” rating on shares of Boingo Wireless in a report on Friday, August 2nd. BidaskClub cut Boingo Wireless from a “sell” rating to a “strong sell” rating in a report on Saturday, June 29th. Finally, Credit Suisse Group set a $28.00 target price on Boingo Wireless and gave the company a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. Boingo Wireless presently has an average rating of “Buy” and an average price target of $29.67.
The business has a 50-day simple moving average of $14.96 and a 200 day simple moving average of $20.16. The firm has a market cap of $499.34 million, a P/E ratio of -395.00 and a beta of 1.01. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.00 and a current ratio of 1.00.
Large investors have recently made changes to their positions in the company. Lindbrook Capital LLC raised its position in shares of Boingo Wireless by 48.2% in the 2nd quarter. Lindbrook Capital LLC now owns 6,150 shares of the technology company’s stock worth $110,000 after acquiring an additional 2,000 shares in the last quarter. Legal & General Group Plc raised its position in shares of Boingo Wireless by 13.7% in the 4th quarter. Legal & General Group Plc now owns 7,297 shares of the technology company’s stock worth $150,000 after acquiring an additional 882 shares in the last quarter. Quantamental Technologies LLC bought a new position in Boingo Wireless during the 1st quarter valued at approximately $179,000. Tower Research Capital LLC TRC bought a new position in Boingo Wireless during the 2nd quarter valued at approximately $151,000. Finally, BNP Paribas Arbitrage SA increased its position in Boingo Wireless by 60,900.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,540 shares of the technology company’s stock valued at $199,000 after buying an additional 8,526 shares in the last quarter.
Boingo Wireless Company Profile (NASDAQ:WIFI)
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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