Shares of Novatel Wireless Inc. (NASDAQ:MIFI) were down 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 analysts recently weighed in on MIFI shares. Canaccord Genuity reiterated a “hold” rating and set a $2.50 price target on shares of Novatel Wireless in a research note on Tuesday, May 10th. Zacks Investment Research cut shares of Novatel Wireless from a “hold” rating to a “sell” rating in a research note on Wednesday, June 1st. Finally, Lake Street Capital reiterated a “buy” rating and set a $3.00 price target (up previously from $2.50) on shares of Novatel Wireless in a research note on Monday.

The company has a 50 day moving average of $1.82 and a 200-day moving average of $1.58. The stock’s market capitalization is $140.56 million.

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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