Shares of Novatel Wireless Inc. (NASDAQ:MIFI) rose 3.5% during trading on Wednesday . The stock traded as high as $3.24 and last traded at $3.24, with a volume of 416,188 shares trading hands. The stock had previously closed at $3.13.

MIFI has been the topic of several recent analyst reports. Canaccord Genuity reaffirmed a “hold” rating and issued a $2.50 price target on shares of Novatel Wireless in a research note on Tuesday, May 10th. Zacks Investment Research lowered Novatel Wireless from a “hold” rating to a “sell” rating in a research note on Wednesday, June 1st. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $3.00 price target (up previously from $2.50) on shares of Novatel Wireless in a research note on Monday, August 15th.

The stock’s 50-day moving average is $2.06 and its 200 day moving average is $1.66. The firm’s market capitalization is $169.37 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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