Shares of Novatel Wireless Inc. (NASDAQ:MIFI) saw strong trading volume on Monday . 427,756 shares traded hands during trading, an increase of 64% from the previous session’s volume of 260,509 shares.The stock last traded at $2.21 and had previously closed at $2.06.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Novatel Wireless from a “sell” rating to a “hold” rating in a research report on Thursday, June 9th. Canaccord Genuity restated a “hold” rating and set a $2.50 target price on shares of Novatel Wireless in a research report on Tuesday, May 10th.

The firm’s market cap is $122.29 million. The stock’s 50 day moving average price is $1.68 and its 200-day moving average price is $1.52.

Novatel Wireless, Inc is a provider of intelligent wireless solutions for the mobile communications market. The Company’s range of products includes intelligent mobile hotspots, universal serial bus (USB) modems, embedded modules, integrated asset-management and mobile tracking machine-to-machine (M2M) devices, communications and applications software and cloud services.

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