Novatel Wireless Inc. (NASDAQ:MIFI)’s share price dropped 4.8% during trading on Wednesday . The company traded as low as $3.11 and last traded at $3.14, with a volume of 126,091 shares. The stock had previously closed at $3.30.

MIFI has been the topic of a number of recent analyst reports. Canaccord Genuity reaffirmed a “hold” rating and issued a $2.50 price objective 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 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.

The firm’s market cap is $168.56 million. The stock’s 50-day moving average is $2.29 and its 200 day moving average is $1.74.

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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