Boingo Wireless Inc. (WIFI) Sees Strong Trading Volume
Shares of Boingo Wireless Inc. (NASDAQ:WIFI) saw unusually-strong trading volume on Tuesday . Approximately 244,884 shares were traded during mid-day trading, an increase of 17% from the previous session’s volume of 208,713 shares.The stock last traded at $8.98 and had previously closed at $8.94.
A number of research analysts have recently commented on WIFI shares. Credit Suisse Group AG restated a “buy” rating and issued a $11.00 target price on shares of Boingo Wireless in a research note on Friday, May 6th. Lake Street Capital started coverage on Boingo Wireless in a research note on Monday, June 20th. They issued a “buy” rating and a $12.00 target price for the company. Zacks Investment Research upgraded Boingo Wireless from a “sell” rating to a “hold” rating in a research note on Thursday, May 19th. Finally, BTIG Research started coverage on Boingo Wireless in a research note on Monday. They issued a “sell” rating and a $6.85 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $10.19.
The stock’s 50-day moving average price is $8.35 and its 200 day moving average price is $7.22. The company’s market capitalization is $336.70 million.
Boingo Wireless (NASDAQ:WIFI) last issued its earnings results on Thursday, May 5th. The company reported ($0.27) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.27). The firm earned $34.50 million during the quarter, compared to analysts’ expectations of $33.55 million. The business’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.22) EPS. On average, equities analysts forecast that Boingo Wireless Inc. will post ($0.72) EPS for the current fiscal year.
In other Boingo Wireless news, CEO David Hagan sold 17,500 shares of Boingo Wireless stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $7.69, for a total transaction of $134,575.00. Following the completion of the transaction, the chief executive officer now owns 509,146 shares in the company, valued at approximately $3,915,332.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Several institutional investors recently added to or reduced their stakes in the stock. Pembroke Management LTD bought a new position in Boingo Wireless during the fourth quarter worth $2,777,000. P.A.W. Capital Corp bought a new position in Boingo Wireless during the fourth quarter worth $1,456,000. Columbia Wanger Asset Management LLC raised its position in Boingo Wireless by 3.7% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 4,734,959 shares of the company’s stock worth $31,345,000 after buying an additional 169,351 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Boingo Wireless by 6.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,456,012 shares of the company’s stock worth $9,639,000 after buying an additional 90,786 shares during the last quarter. Finally, Royce & Associates LLC raised its position in Boingo Wireless by 17.4% in the fourth quarter. Royce & Associates LLC now owns 226,090 shares of the company’s stock worth $1,497,000 after buying an additional 33,500 shares during the last quarter.
Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (DAS) services for carriers. The Company operates as a service provider of wireless connectivity solutions across its managed and operated network and aggregated network for mobile devices such as laptops, smartphones, tablets and other wireless-enabled consumer devices segment.
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