Boingo Wireless (NASDAQ:WIFI) Rating Increased to Sell at BidaskClub

Boingo Wireless (NASDAQ:WIFI) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Tuesday, BidAskClub reports.

WIFI has been the topic of several other reports. Craig Hallum reaffirmed a “buy” rating and set a $18.00 target price (down from $22.00) on shares of Boingo Wireless in a research note on Wednesday, November 6th. William Blair reaffirmed a “buy” rating on shares of Boingo Wireless in a research note on Friday, October 11th. Oppenheimer cut their target price on shares of Boingo Wireless from $23.00 to $15.00 in a research note on Tuesday, December 17th. Finally, Zacks Investment Research raised shares of Boingo Wireless from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research note on Saturday, January 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $20.60.

WIFI traded up $0.58 during trading hours on Tuesday, hitting $12.43. 17,438 shares of the company’s stock were exchanged, compared to its average volume of 483,164. Boingo Wireless has a 12-month low of $8.85 and a 12-month high of $26.07. The firm has a 50 day moving average of $11.26 and a 200 day moving average of $12.46. The firm has a market cap of $523.30 million, a P/E ratio of -415.33 and a beta of 1.00. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.87.

A number of large investors have recently bought and sold shares of WIFI. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Boingo Wireless by 122.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,986 shares of the technology company’s stock worth $66,000 after buying an additional 3,300 shares during the last quarter. Man Group plc acquired a new stake in shares of Boingo Wireless during the 3rd quarter worth about $132,000. Tower Research Capital LLC TRC raised its position in shares of Boingo Wireless by 44.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 12,104 shares of the technology company’s stock worth $134,000 after acquiring an additional 3,704 shares in the last quarter. Stifel Financial Corp raised its position in shares of Boingo Wireless by 31.0% during the 3rd quarter. Stifel Financial Corp now owns 19,667 shares of the technology company’s stock worth $219,000 after acquiring an additional 4,649 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Boingo Wireless during the 2nd quarter worth about $264,000. 98.81% of the stock is currently owned by hedge funds and other institutional investors.

Boingo Wireless Company Profile

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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Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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