Shares of Novatel Wireless Inc. (NASDAQ:MIFI) fell 4.8% on Wednesday . The company traded as low as $3.11 and last traded at $3.14, with a volume of 126,091 shares changing hands. The stock had previously closed at $3.30.

A number of brokerages have weighed in on MIFI. Canaccord Genuity reissued a “hold” rating and issued a $2.50 price target on shares of Novatel Wireless in a report on Tuesday, May 10th. Lake Street Capital reissued a “buy” rating and issued a $3.00 price target (up from $2.50) on shares of Novatel Wireless in a report on Monday, August 15th. Finally, Zacks Investment Research raised shares of Novatel Wireless from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a report on Wednesday, August 10th.

The firm’s market capitalization is $169.64 million. The company has a 50-day moving average price of $2.35 and a 200-day moving average price of $1.76.

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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