Boingo Wireless (NASDAQ:WIFI) Shares Up 5.7%

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Boingo Wireless Inc (NASDAQ:WIFI) shares were up 5.7% during mid-day trading on Friday . The stock traded as high as $12.37 and last traded at $12.27, approximately 569,070 shares traded hands during mid-day trading. A decline of 9% from the average daily volume of 626,102 shares. The stock had previously closed at $11.61.

A number of research firms have commented on WIFI. Craig Hallum reaffirmed a “buy” rating and issued a $18.00 target price (down previously from $22.00) on shares of Boingo Wireless in a research report on Wednesday, November 6th. BidaskClub raised shares of Boingo Wireless from a “strong sell” rating to a “sell” rating in a research note on Saturday. William Blair reiterated a “buy” rating on shares of Boingo Wireless in a research report on Friday, October 11th. Finally, Zacks Investment Research downgraded shares of Boingo Wireless from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $22.00.

The firm has a 50-day moving average price of $10.96 and a 200 day moving average price of $14.09. The firm has a market capitalization of $512.70 million, a PE ratio of -409.00 and a beta of 1.03. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.87.

In related news, CTO Derek Peterson sold 10,715 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $14.02, for a total value of $150,224.30. Following the sale, the chief technology officer now owns 48,911 shares in the company, valued at approximately $685,732.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of WIFI. First Trust Advisors LP acquired a new position in Boingo Wireless in the 2nd quarter valued at about $312,000. BNP Paribas Arbitrage SA boosted its stake in shares of Boingo Wireless by 25.9% in the second quarter. BNP Paribas Arbitrage SA now owns 10,756 shares of the technology company’s stock valued at $193,000 after purchasing an additional 2,216 shares during the period. Stephens Investment Management Group LLC grew its holdings in shares of Boingo Wireless by 6.8% in the second quarter. Stephens Investment Management Group LLC now owns 694,238 shares of the technology company’s stock valued at $12,475,000 after purchasing an additional 43,988 shares in the last quarter. Swiss National Bank grew its holdings in shares of Boingo Wireless by 2.5% in the second quarter. Swiss National Bank now owns 79,350 shares of the technology company’s stock valued at $1,426,000 after purchasing an additional 1,900 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Boingo Wireless by 26.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 15,987 shares of the technology company’s stock valued at $287,000 after purchasing an additional 3,360 shares in the last quarter. 98.81% of the stock is currently owned by hedge funds and other institutional investors.

Boingo Wireless Company Profile (NASDAQ:WIFI)

Boingo Wireless, Inc, together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices worldwide. The company offers distributed antenna systems and small cell networks at managed and operated locations; high-speed Wi-Fi services for residential consumers on military bases and at multifamily properties; and wholesale Wi-Fi services to network operators, device manufacturers, technology companies, enterprise software and services companies, venue operators, and financial services companies, as well as retail Internet access services.

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