Boingo Wireless Inc. (WIFI) Trading 3.2% Higher
Boingo Wireless Inc. (NASDAQ:WIFI)’s share price traded up 3.2% on Wednesday . The stock traded as high as $9.79 and last traded at $9.55, with a volume of 330,979 shares traded. The stock had previously closed at $9.25.
Several equities analysts have recently weighed in on the stock. Jefferies Group raised their price target on shares of Boingo Wireless from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. BTIG Research assumed coverage on shares of Boingo Wireless in a research note on Monday, July 11th. They issued a “sell” rating and a $6.85 price target on the stock. Oppenheimer Holdings Inc. assumed coverage on shares of Boingo Wireless in a research note on Tuesday, September 13th. They issued an “outperform” rating and a $12.00 price target on the stock. Ladenburg Thalmann reissued a “buy” rating and issued a $12.25 price target on shares of Boingo Wireless in a research note on Thursday, August 11th. Finally, Lake Street Capital assumed coverage on shares of Boingo Wireless in a research note on Monday, June 20th. They issued a “buy” rating and a $12.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $10.73.
The stock’s market capitalization is $365.54 million. The stock has a 50 day moving average of $8.66 and a 200-day moving average of $8.13.
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Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.01. Boingo Wireless had a negative net margin of 17.20% and a negative return on equity of 23.75%. The business had revenue of $39.10 million for the quarter, compared to analysts’ expectations of $38.94 million. During the same period in the prior year, the company posted ($0.16) EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts predict that Boingo Wireless Inc. will post ($0.72) EPS for the current year.
In other news, VP Tom Tracey sold 3,750 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $8.44, for a total transaction of $31,650.00. Following the transaction, the vice president now directly owns 46,299 shares of the company’s stock, valued at approximately $390,763.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 7.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of WIFI. BlackRock Advisors LLC boosted its position in Boingo Wireless by 2.3% in the second quarter. BlackRock Advisors LLC now owns 18,778 shares of the company’s stock worth $167,000 after buying an additional 417 shares during the period. Balter Liquid Alternatives LLC bought a new position in Boingo Wireless during the second quarter worth $197,000. Goldman Sachs Group Inc. boosted its position in Boingo Wireless by 38.4% in the first quarter. Goldman Sachs Group Inc. now owns 25,764 shares of the company’s stock worth $199,000 after buying an additional 7,154 shares during the period. Spark Investment Management LLC bought a new position in Boingo Wireless during the first quarter worth $248,000. Finally, Prudential Financial Inc. bought a new position in Boingo Wireless during the first quarter worth $340,000. 86.56% of the stock is currently owned by institutional investors and hedge funds.
Boingo Wireless Company Profile
Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (DAS) services for carriers. The Company operates as a service provider of wireless connectivity solutions across its managed and operated network and aggregated network for mobile devices such as laptops, smartphones, tablets and other wireless-enabled consumer devices segment.
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