Boingo Wireless Sets New 52-Week Low on Disappointing Earnings (WIFI)
Boingo Wireless (NASDAQ:WIFI) hit a new 52-week low on Wednesday following a dissappointing earnings announcement, AR Network reports. The company traded as low as $5.06 and last traded at $5.77, with a volume of 396,622 shares changing hands. The stock had previously closed at $5.76.
The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.10. The company had revenue of $28.80 million for the quarter, compared to the consensus estimate of $29.57 million.
WIFI has been the subject of a number of recent research reports. Analysts at Credit Suisse cut their price target on shares of Boingo Wireless from $10.00 to $9.00 in a research note on Wednesday. Analysts at Jefferies Group initiated coverage on shares of Boingo Wireless in a research note on Thursday, December 19th. They set a “buy” rating and a $8.00 price target on the stock. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $7.50.
In other Boingo Wireless news, CEO David Hagan unloaded 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $6.12, for a total transaction of $153,000.00. Following the completion of the sale, the chief executive officer now directly owns 310,000 shares in the company, valued at approximately $1,897,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
The stock’s 50-day moving average is $6.1 and its 200-day moving average is $6.65. The company has a market cap of $205.3 million and a P/E ratio of 822.86.
Boingo Wireless, Inc (NASDAQ:WIFI) provides mobile Internet through wireless fidelity (Wi-Fi) networks globally.
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