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

A number of analysts have recently weighed in on the stock. Canaccord Genuity restated a “hold” rating and issued a $2.50 price objective on shares of Novatel Wireless in a research note on Tuesday, May 10th. Lake Street Capital reiterated a “buy” rating and set a $3.00 target price (up from $2.50) on shares of Novatel Wireless in a research note on Monday, August 15th. Finally, Zacks Investment Research upgraded shares of Novatel Wireless from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a research note on Wednesday, August 10th.

The company’s market capitalization is $175.56 million. The company’s 50-day moving average is $1.96 and its 200-day moving average is $1.62.

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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