Boingo Wireless (NASDAQ:WIFI) Stock Rating Upgraded by BidaskClub

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

Several other research analysts have also commented on WIFI. Craig Hallum restated a “buy” rating and set a $18.00 price target (down previously 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. Finally, Zacks Investment Research downgraded shares of Boingo Wireless from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $22.00.

WIFI stock opened at $12.27 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $508.29 million, a price-to-earnings ratio of -409.00 and a beta of 1.02. 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 $10.96 and a two-hundred day moving average of $14.09.

In related news, CTO Derek Peterson sold 10,715 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief technology officer now directly owns 48,911 shares in the company, valued at approximately $685,732.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.50% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in WIFI. Vanguard Group Inc. grew its holdings in Boingo Wireless by 3.8% during the second quarter. Vanguard Group Inc. now owns 3,496,812 shares of the technology company’s stock valued at $62,837,000 after purchasing an additional 127,674 shares during the last quarter. Renaissance Technologies LLC grew its stake in Boingo Wireless by 0.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,900,700 shares of the technology company’s stock valued at $52,126,000 after buying an additional 23,600 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Boingo Wireless by 30.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,500,000 shares of the technology company’s stock valued at $27,750,000 after buying an additional 578,000 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Boingo Wireless by 1.0% in the 2nd quarter. Victory Capital Management Inc. now owns 1,977,670 shares of the technology company’s stock worth $35,538,000 after acquiring an additional 18,720 shares during the period. Finally, Rice Hall James & Associates LLC raised its holdings in Boingo Wireless by 17.8% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,678,711 shares of the technology company’s stock worth $18,634,000 after acquiring an additional 253,761 shares during the period. 98.81% of the stock is 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.

Recommended Story: Price-Sales Ratio

Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

Receive News & Ratings for Boingo Wireless Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boingo Wireless and related companies with MarketBeat.com's FREE daily email newsletter.