Boingo Wireless (NASDAQ:WIFI) Downgraded by BidaskClub

BidaskClub downgraded shares of Boingo Wireless (NASDAQ:WIFI) from a sell rating to a strong sell rating in a research report released on Saturday, June 29th, BidAskClub reports.

Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of G1 Therapeutics from a buy rating to a hold rating in a research note on Thursday, May 16th. Oppenheimer began coverage on shares of Alcon in a research note on Thursday, May 9th. They issued an outperform rating and a $69.00 price target for the company. Northland Securities began coverage on shares of Boingo Wireless in a research note on Monday, April 22nd. They issued a buy rating and a $30.00 price target for the company. Roth Capital reiterated a buy rating on shares of Boingo Wireless in a research note on Friday, March 1st. Finally, Craig Hallum reduced their price target on shares of Green Dot from $115.00 to $100.00 and set a buy rating for the company in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $32.67.

NASDAQ:WIFI traded down $0.48 on Friday, reaching $17.71. 607,961 shares of the stock traded hands, compared to its average volume of 690,132. The firm has a market capitalization of $778.97 million, a P/E ratio of -590.33 and a beta of 1.06. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.89. Boingo Wireless has a 12 month low of $17.14 and a 12 month high of $35.98. The stock’s fifty day moving average is $18.45.

Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The firm had revenue of $66.47 million for the quarter, compared to the consensus estimate of $65.74 million. Boingo Wireless had a negative net margin of 1.21% and a negative return on equity of 2.82%. As a group, research analysts predict that Boingo Wireless will post -0.38 EPS for the current fiscal year.

In related news, insider Derek Peterson sold 11,628 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $21.77, for a total value of $253,141.56. Following the transaction, the insider now owns 57,447 shares of the company’s stock, valued at $1,250,621.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Peter Hovenier sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $17.80, for a total transaction of $89,000.00. Following the completion of the transaction, the chief financial officer now directly owns 380,723 shares in the company, valued at approximately $6,776,869.40. The disclosure for this sale can be found here. In the last three months, insiders sold 152,756 shares of company stock worth $2,827,519. 3.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. lifted its holdings in Boingo Wireless by 75.6% during the fourth quarter. Macquarie Group Ltd. now owns 2,067 shares of the technology company’s stock valued at $42,000 after purchasing an additional 890 shares in the last quarter. Lindbrook Capital LLC purchased a new position in Boingo Wireless during the first quarter valued at approximately $96,000. Legal & General Group Plc lifted its holdings in Boingo Wireless by 13.7% during the fourth quarter. Legal & General Group Plc now owns 7,297 shares of the technology company’s stock valued at $150,000 after purchasing an additional 882 shares in the last quarter. NumerixS Investment Technologies Inc lifted its holdings in Boingo Wireless by 53.6% during the fourth quarter. NumerixS Investment Technologies Inc now owns 8,600 shares of the technology company’s stock valued at $172,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in Boingo Wireless during the first quarter valued at approximately $179,000.

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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