Novatel Wireless Inc. (MIFI) Sees Unusually-High Trading Volume
Novatel Wireless Inc. (NASDAQ:MIFI) saw unusually-strong trading volume on Friday . Approximately 729,218 shares changed hands during trading, an increase of 41% from the previous session’s volume of 517,800 shares.The stock last traded at $3.32 and had previously closed at $3.18.
Several equities analysts have weighed in on MIFI shares. Canaccord Genuity restated a “hold” rating and set a $2.50 target price on shares of Novatel Wireless in a report on Tuesday, May 10th. Zacks Investment Research downgraded shares of Novatel Wireless from a “hold” rating to a “sell” rating in a report on Wednesday, June 1st. Finally, Lake Street Capital restated 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 $175.56 million. The company 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.