Boingo Wireless (NASDAQ:WIFI) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday.

WIFI has been the topic of a number of other research reports. Credit Suisse Group increased their price target on Boingo Wireless from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. Zacks Investment Research raised Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, October 5th. Craig Hallum increased their price target on Boingo Wireless from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Jefferies Group increased their price target on Boingo Wireless from $20.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Finally, Oppenheimer reissued a “buy” rating and set a $30.00 price target on shares of Boingo Wireless in a research report on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $22.04.

Boingo Wireless (WIFI) traded down $0.12 on Tuesday, hitting $22.51. The stock had a trading volume of 288,669 shares, compared to its average volume of 341,932. Boingo Wireless has a fifty-two week low of $10.46 and a fifty-two week high of $25.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.50 and a current ratio of 0.50.

Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. Boingo Wireless had a negative return on equity of 23.62% and a negative net margin of 11.75%. The business had revenue of $53.66 million for the quarter, compared to the consensus estimate of $50.22 million. During the same quarter in the prior year, the company earned ($0.15) EPS. The business’s revenue was up 31.5% compared to the same quarter last year. equities analysts expect that Boingo Wireless will post -0.58 EPS for the current year.

In related news, insider Dawn Callahan sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $25.10, for a total transaction of $627,500.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Peter Hovenier sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $23.75, for a total value of $237,500.00. Following the sale, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $237,500. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,552 shares of company stock worth $1,873,093. 7.70% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of WIFI. Legion Partners Asset Management LLC bought a new stake in Boingo Wireless during the fourth quarter valued at about $25,835,000. Park West Asset Management LLC raised its stake in Boingo Wireless by 82.4% in the fourth quarter. Park West Asset Management LLC now owns 1,824,300 shares of the technology company’s stock valued at $12,077,000 after buying an additional 824,300 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in Boingo Wireless in the second quarter valued at about $6,678,000. Russell Investments Group Ltd. purchased a new stake in Boingo Wireless in the fourth quarter valued at about $7,463,000. Finally, Castleark Management LLC purchased a new stake in Boingo Wireless in the second quarter valued at about $8,995,000. 89.96% of the stock is currently owned by institutional investors.

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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. 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.

Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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