Boingo Wireless (NASDAQ:WIFI) Trading Up 5.9%

Shares of Boingo Wireless Inc (NASDAQ:WIFI) were up 5.9% during trading on Tuesday . The company traded as high as $10.16 and last traded at $10.15, approximately 572,255 shares traded hands during trading. A decline of 8% from the average daily volume of 618,918 shares. The stock had previously closed at $9.58.

A number of analysts have recently commented on WIFI shares. BidaskClub downgraded Boingo Wireless from a “sell” rating to a “strong sell” rating in a report on Saturday, June 29th. Northland Securities restated a “buy” rating on shares of Boingo Wireless in a report on Friday, August 2nd. Oppenheimer lowered their price target on Boingo Wireless to $23.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Craig Hallum lowered their price target on Boingo Wireless from $29.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, ValuEngine upgraded Boingo Wireless from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $26.14.

The stock has a market capitalization of $430.51 million, a price-to-earnings ratio of -338.33 and a beta of 1.01. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a fifty day moving average of $11.33 and a 200-day moving average of $16.79.

In related news, CFO Peter Hovenier sold 3,098 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $15.00, for a total value of $46,470.00. Following the completion of the sale, the chief financial officer now directly owns 380,711 shares in the company, valued at approximately $5,710,665. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Derek Peterson sold 10,715 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $14.02, for a total transaction of $150,224.30. Following the completion of the transaction, the chief technology officer now directly owns 48,911 shares of the company’s stock, valued at $685,732.22. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. New Jersey Better Educational Savings Trust boosted its position in Boingo Wireless by 7.7% in the 2nd quarter. New Jersey Better Educational Savings Trust now owns 14,000 shares of the technology company’s stock valued at $252,000 after buying an additional 1,000 shares during the last quarter. Swiss National Bank boosted its position in Boingo Wireless by 2.5% in the 2nd quarter. Swiss National Bank now owns 79,350 shares of the technology company’s stock valued at $1,426,000 after buying an additional 1,900 shares during the last quarter. Lindbrook Capital LLC boosted its position in Boingo Wireless by 48.2% in the 2nd quarter. Lindbrook Capital LLC now owns 6,150 shares of the technology company’s stock valued at $110,000 after buying an additional 2,000 shares during the last quarter. NJ State Employees Deferred Compensation Plan boosted its position in Boingo Wireless by 7.1% in the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 30,000 shares of the technology company’s stock valued at $539,000 after buying an additional 2,000 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Boingo Wireless by 25.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,756 shares of the technology company’s stock valued at $193,000 after buying an additional 2,216 shares during the last quarter.

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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