Novatel Wireless Inc. (MIFI) Stock Price Down 14.5%
Novatel Wireless Inc. (NASDAQ:MIFI) was down 14.5% during mid-day trading on Tuesday . The company traded as low as $3.17 and last traded at $3.19, with a volume of 1,423,883 shares trading hands. The stock had previously closed at $3.73.
A number of equities research analysts have recently issued reports on MIFI shares. Zacks Investment Research raised shares of Novatel Wireless from a “sell” rating to a “hold” rating in a research note on Thursday, June 9th. 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 research note on Monday, August 15th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $2.50 price target on shares of Novatel Wireless in a research note on Tuesday, May 10th.
The firm’s market cap is $168.02 million. The firm has a 50 day moving average of $2.10 and a 200 day moving average of $1.67.
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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