Boingo Wireless Inc. (WIFI) Trading Up 5.5%
Boingo Wireless Inc. (NASDAQ:WIFI) was up 5.5% on Monday . The stock traded as high as $9.07 and last traded at $8.99, with a volume of 580,210 shares traded. The stock had previously closed at $8.52.
Several equities research analysts have weighed in on WIFI shares. BTIG Research started coverage on Boingo Wireless in a research note on Monday, July 11th. They set a “sell” rating and a $6.85 price objective on the stock. Lake Street Capital started coverage on Boingo Wireless in a research note on Monday, June 20th. They set a “buy” rating and a $12.00 price objective on the stock. Zacks Investment Research cut Boingo Wireless from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $11.00 price objective on shares of Boingo Wireless in a research note on Friday, May 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $10.19.
The firm’s market cap is $342.66 million. The company’s 50-day moving average price is $8.47 and its 200-day moving average price is $7.26.
Boingo Wireless (NASDAQ:WIFI) last issued its earnings results on Thursday, May 5th. The company reported ($0.27) earnings per share for the quarter, hitting the consensus estimate of ($0.27). The company had revenue of $34.50 million for the quarter, compared to analyst estimates of $33.55 million. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.22) earnings per share. Equities analysts forecast that Boingo Wireless Inc. will post ($0.68) EPS for the current year.
In other Boingo Wireless news, CEO David Hagan sold 35,000 shares of the company’s stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of $7.63, for a total transaction of $267,050.00. Following the transaction, the chief executive officer now directly owns 509,146 shares in the company, valued at $3,884,783.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of hedge funds and institutional investors recently modified their holdings of the company. 1492 Capital Management LLC raised its position in shares of Boingo Wireless by 18.1% in the fourth quarter. 1492 Capital Management LLC now owns 152,629 shares of the company’s stock valued at $1,010,000 after buying an additional 23,437 shares during the last quarter. P.A.W. Capital Corp bought a new position in shares of Boingo Wireless during the fourth quarter valued at $1,456,000. Royce & Associates LLC raised its position in shares of Boingo Wireless by 17.4% in the fourth quarter. Royce & Associates LLC now owns 226,090 shares of the company’s stock valued at $1,497,000 after buying an additional 33,500 shares during the last quarter. Bank of Montreal Can raised its position in shares of Boingo Wireless by 3.6% in the fourth quarter. Bank of Montreal Can now owns 388,370 shares of the company’s stock valued at $2,571,000 after buying an additional 13,406 shares during the last quarter. Finally, Pembroke Management LTD bought a new position in shares of Boingo Wireless during the fourth quarter valued at $2,777,000.
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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