Boingo Wireless Inc (NASDAQ:WIFI)’s share price rose 14.2% on Thursday . The stock traded as high as $13.06 and last traded at $12.76, approximately 1,524,984 shares traded hands during trading. An increase of 148% from the average daily volume of 615,872 shares. The stock had previously closed at $11.17.
WIFI has been the topic of several analyst reports. Craig Hallum dropped their price target on shares of Boingo Wireless from $29.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Credit Suisse Group set a $28.00 price target on shares of Boingo Wireless and gave the stock a “buy” rating in a research note on Friday, August 2nd. Oppenheimer dropped their price target on shares of Boingo Wireless to $23.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Northland Securities reiterated a “buy” rating on shares of Boingo Wireless in a research note on Friday, August 2nd. Finally, 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 research note on Saturday, August 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. Boingo Wireless currently has a consensus rating of “Buy” and a consensus target price of $29.67.
The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.88. The business’s 50 day moving average is $15.09 and its two-hundred day moving average is $20.22. The company has a market cap of $506.83 million, a PE ratio of -425.33 and a beta of 1.01.
In other news, CEO Michael Finley bought 10,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $11.00 per share, for a total transaction of $110,000.00. Following the purchase, the chief executive officer now owns 61,873 shares in the company, valued at $680,603. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Hagan sold 98,346 shares of Boingo Wireless stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $18.15, for a total transaction of $1,784,979.90. Following the transaction, the director now owns 1,056,229 shares in the company, valued at approximately $19,170,556.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,226 shares of company stock worth $2,507,248. 3.80% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in WIFI. Lindbrook Capital LLC lifted its stake in shares of Boingo Wireless by 48.2% during the 2nd quarter. Lindbrook Capital LLC now owns 6,150 shares of the technology company’s stock valued at $110,000 after buying an additional 2,000 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Boingo Wireless by 13.7% during the 4th quarter. Legal & General Group Plc now owns 7,297 shares of the technology company’s stock valued at $150,000 after buying an additional 882 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Boingo Wireless during the 2nd quarter valued at $151,000. Quantamental Technologies LLC purchased a new position in shares of Boingo Wireless during the 1st quarter valued at $179,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Boingo Wireless by 25.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,756 shares of the technology company’s stock valued at $193,000 after buying an additional 2,216 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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