Novatel Wireless major shareholder Buys $481,718 in Stock (NVTL)
Novatel Wireless (NASDAQ:NVTL) major shareholder Bruce A. Karsh purchased 261,803 shares of the stock on the open market in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average cost of $1.84 per share, for a total transaction of $481,717.52. Following the completion of the acquisition, the insider now directly owns 3,286,803 shares in the company, valued at approximately $6,047,718. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Novatel Wireless (NASDAQ:NVTL) traded down 1.02% on Monday, hitting $1.95. The stock had a trading volume of 23,231 shares. Novatel Wireless has a 52-week low of $1.51 and a 52-week high of $3.40. The stock has a 50-day moving average of $1.89 and a 200-day moving average of $1.99. The company’s market cap is $71.8 million.
Novatel Wireless (NASDAQ:NVTL) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by $0.14. The company had revenue of $37.30 million for the quarter, compared to the consensus estimate of $41.30 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The company’s revenue for the quarter was down 59.1% on a year-over-year basis. Analysts expect that Novatel Wireless will post $-0.86 EPS for the current fiscal year.
Novatel Wireless, Inc (NASDAQ:NVTL) is a provider of wireless solutions for the worldwide mobile communications markets.
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