Boingo Wireless (NASDAQ:WIFI) Sets New 52-Week Low at $15.22

Boingo Wireless Inc (NASDAQ:WIFI) hit a new 52-week low on Tuesday . The company traded as low as $15.22 and last traded at $15.22, with a volume of 21787 shares trading hands. The stock had previously closed at $16.15.

A number of equities research analysts have weighed in on the company. BidaskClub upgraded Xilinx from a “hold” rating to a “buy” rating in a research note on Saturday, June 29th. Craig Hallum lowered their price objective on Green Dot from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Northland Securities assumed coverage on Boingo Wireless in a research note on Monday, April 22nd. They set a “buy” rating and a $30.00 price objective for the company. Zacks Investment Research lowered G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, Oppenheimer assumed coverage on Alcon in a research report on Thursday, May 9th. They issued an “outperform” rating and a $69.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $32.67.

The stock has a market cap of $689.25 million, a P/E ratio of -508.33 and a beta of 1.06. The company has a 50-day moving average of $18.03. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.89.

Boingo Wireless (NASDAQ:WIFI) last issued its earnings results on Wednesday, May 8th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $66.47 million during the quarter, compared to analyst estimates of $65.74 million. Boingo Wireless had a negative return on equity of 2.82% and a negative net margin of 1.21%. As a group, sell-side analysts expect that Boingo Wireless Inc will post -0.38 EPS for the current year.

In other news, insider Derek Peterson sold 11,628 shares of Boingo Wireless stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $21.77, for a total value of $253,141.56. Following the completion of the transaction, the insider now owns 57,447 shares in the company, valued at approximately $1,250,621.19. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Peter Hovenier sold 5,000 shares of Boingo Wireless stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $17.80, for a total value of $89,000.00. Following the completion of the transaction, the chief financial officer now owns 380,723 shares of the company’s stock, valued at approximately $6,776,869.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,756 shares of company stock valued at $2,827,519. Insiders own 4.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its position in Boingo Wireless by 59.6% during the 1st quarter. FMR LLC now owns 6,308,084 shares of the technology company’s stock valued at $146,853,000 after purchasing an additional 2,354,550 shares during the period. BlackRock Inc. boosted its position in Boingo Wireless by 3.5% during the 4th quarter. BlackRock Inc. now owns 3,384,070 shares of the technology company’s stock valued at $69,608,000 after purchasing an additional 114,768 shares during the period. Victory Capital Management Inc. boosted its position in Boingo Wireless by 62.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,958,950 shares of the technology company’s stock valued at $45,604,000 after purchasing an additional 755,715 shares during the period. Handelsbanken Fonder AB boosted its position in Boingo Wireless by 249.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 1,922,000 shares of the technology company’s stock valued at $34,538,000 after purchasing an additional 1,372,000 shares during the period. Finally, Rice Hall James & Associates LLC boosted its position in Boingo Wireless by 12.3% during the 1st quarter. Rice Hall James & Associates LLC now owns 1,466,910 shares of the technology company’s stock valued at $34,150,000 after purchasing an additional 160,850 shares during the period.

About Boingo Wireless (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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