Boingo Wireless, Inc. (NASDAQ:WIFI) has earned an average recommendation of “Hold” from the nine research firms that are covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $15.80.
A number of research firms have recently weighed in on WIFI. Jefferies Financial Group reissued a “hold” rating and set a $14.00 target price on shares of Boingo Wireless in a research report on Tuesday, March 16th. William Blair cut shares of Boingo Wireless from an “outperform” rating to a “market perform” rating in a research note on Monday, April 12th. Craig Hallum restated a “hold” rating and set a $14.00 price target (down from $18.00) on shares of Boingo Wireless in a research note on Monday, March 8th. Lake Street Capital cut shares of Boingo Wireless from a “buy” rating to a “hold” rating in a research note on Thursday, March 4th. Finally, Northland Securities cut shares of Boingo Wireless from an “outperform” rating to a “market perform” rating in a research note on Monday, March 1st.
Shares of Boingo Wireless stock traded down $0.06 on Wednesday, reaching $13.93. 1,500,690 shares of the company traded hands, compared to its average volume of 906,467. Boingo Wireless has a 52 week low of $8.69 and a 52 week high of $15.92. The company has a 50 day moving average of $13.99 and a 200 day moving average of $12.97. The firm has a market capitalization of $623.38 million, a PE ratio of -39.89 and a beta of 1.08. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.94 and a quick ratio of 0.94.
In other Boingo Wireless news, CTO Derek Peterson sold 30,000 shares of the stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $14.04, for a total value of $421,200.00. Following the sale, the chief technology officer now directly owns 32,791 shares in the company, valued at approximately $460,385.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Mint Tower Capital Management B.V. purchased a new stake in shares of Boingo Wireless during the 1st quarter valued at $159,000. JPMorgan Chase & Co. raised its position in shares of Boingo Wireless by 1,143.0% during the 1st quarter. JPMorgan Chase & Co. now owns 470,877 shares of the technology company’s stock valued at $6,625,000 after buying an additional 432,996 shares in the last quarter. UBS Group AG raised its position in shares of Boingo Wireless by 2,276.8% during the 1st quarter. UBS Group AG now owns 21,867 shares of the technology company’s stock valued at $308,000 after buying an additional 20,947 shares in the last quarter. Privium Fund Management UK Ltd purchased a new stake in shares of Boingo Wireless during the 1st quarter valued at $3,259,000. Finally, Segantii Capital Management Ltd purchased a new stake in shares of Boingo Wireless during the 1st quarter valued at $5,971,000. Institutional investors and hedge funds own 89.16% of the company’s stock.
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 operates through five segments: Carrier Services, Military, Multifamily, Legacy, and Private Networks and Emerging Technologies.
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