Novatel Wireless Inc. (NASDAQ:MIFI) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $3.11 and last traded at $3.11, with a volume of 481,092 shares trading hands. The stock had previously closed at $2.95.

A number of brokerages have issued reports on MIFI. Zacks Investment Research lowered shares of Novatel Wireless from a “hold” rating to a “sell” rating in a research note on Wednesday, June 1st. Lake Street Capital restated 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. Finally, Canaccord Genuity restated a “hold” rating and set a $2.50 price target on shares of Novatel Wireless in a research note on Tuesday, May 10th.

The firm has a 50 day moving average price of $1.87 and a 200-day moving average price of $1.59. The firm’s market cap is $171.04 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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