Novatel Wireless Inc. (MIFI) Shares Down 4.7%
Novatel Wireless Inc. (NASDAQ:MIFI)’s share price fell 4.7% on Monday . The company traded as low as $2.42 and last traded at $2.43, with a volume of 657,676 shares traded. The stock had previously closed at $2.55.
A number of brokerages recently weighed in on MIFI. Lake Street Capital restated a “buy” rating and set a $3.00 target price (up from $2.50) on shares of Novatel Wireless in a report on Monday. Zacks Investment Research upgraded shares of Novatel Wireless from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a report on Wednesday, August 10th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $2.50 price objective on shares of Novatel Wireless in a report on Tuesday, May 10th.
The company’s market cap is $133.02 million. The company’s 50-day moving average is $1.79 and its 200-day moving average is $1.57.
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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