Shares of Novatel Wireless Inc. (NASDAQ:MIFI) rose 8.8% during trading on Wednesday . The company traded as high as $2.86 and last traded at $2.84, with a volume of 374,670 shares changing hands. The stock had previously closed at $2.61.

MIFI has been the subject of a number of research reports. Zacks Investment Research raised shares of Novatel Wireless from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a report on Wednesday, August 10th. Canaccord Genuity reaffirmed a “hold” rating and set a $2.50 target price on shares of Novatel Wireless in a report on Tuesday, May 10th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $3.00 target price (up from $2.50) on shares of Novatel Wireless in a report on Monday.

The stock’s market capitalization is $171.26 million. The firm has a 50-day moving average price of $1.91 and a 200-day moving average price of $1.60.

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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