Boingo Wireless (NASDAQ:WIFI) Stock Price Down 7.1%

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.



In other news, Director David Hagan sold 98,346 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $18.15, for a total value of $1,784,979.90. Following the completion of the transaction, the director now owns 1,056,229 shares of the company’s stock, valued at approximately $19,170,556.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Finley bought 10,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $11.00 per share, with a total value of $110,000.00. Following the transaction, the chief executive officer now directly owns 61,873 shares in the company, valued at approximately $680,603. The disclosure for this purchase can be found here. Insiders have sold a total of 139,226 shares of company stock valued at $2,507,248 in the last ninety days. 3.80% of the stock is currently owned by corporate insiders.

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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