Boingo Wireless (NASDAQ:WIFI) Upgraded to “Sell” at BidaskClub

BidaskClub upgraded shares of Boingo Wireless (NASDAQ:WIFI) from a strong sell rating to a sell rating in a research note published on Saturday morning, BidAskClub reports.

Other equities analysts have also issued research reports about the stock. Craig Hallum reissued a buy rating and issued a $18.00 price target (down previously from $22.00) on shares of Boingo Wireless in a research report on Wednesday, November 6th. Zacks Investment Research cut shares of Boingo Wireless from a buy rating to a hold rating in a research note on Saturday, November 16th. Finally, William Blair reaffirmed a buy rating on shares of Boingo Wireless in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $22.00.

Shares of NASDAQ WIFI opened at $12.27 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $512.70 million, a price-to-earnings ratio of -409.00 and a beta of 1.03. Boingo Wireless has a 52 week low of $8.85 and a 52 week high of $26.07. The business has a 50 day simple moving average of $10.96 and a 200 day simple moving average of $14.09.

In other news, CTO Derek Peterson sold 10,715 shares of Boingo Wireless stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $14.02, for a total value of $150,224.30. Following the transaction, the chief technology officer now directly owns 48,911 shares in the company, valued at $685,732.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of WIFI. Swiss National Bank increased its stake in Boingo Wireless by 2.5% during the second quarter. Swiss National Bank now owns 79,350 shares of the technology company’s stock valued at $1,426,000 after acquiring an additional 1,900 shares during the period. BNP Paribas Arbitrage SA grew its position in Boingo Wireless by 25.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,756 shares of the technology company’s stock worth $193,000 after acquiring an additional 2,216 shares during the last quarter. JPMorgan Chase & Co. grew its position in Boingo Wireless by 24.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,222 shares of the technology company’s stock worth $294,000 after acquiring an additional 3,186 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Boingo Wireless by 122.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,986 shares of the technology company’s stock valued at $66,000 after purchasing an additional 3,300 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in Boingo Wireless by 26.6% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 15,987 shares of the technology company’s stock valued at $287,000 after purchasing an additional 3,360 shares in the last quarter. 98.81% of the stock is owned by institutional investors.

Boingo Wireless Company Profile

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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