Today’s Price Action: Could Novatel Wireless Inc Recover After Today’s Big Decline?

Today's Price Action: Could Novatel Wireless Inc Recover After Today's Big Decline?

The stock of Novatel Wireless Inc (NASDAQ:INSG) is a huge mover today! About 299,077 shares traded hands or 23.11% up from the average. Novatel Wireless Inc (NASDAQ:INSG) has risen 50.00% since April 14, 2016 and is uptrending. It has outperformed by 45.31% the S&P500.
The move comes after 6 months negative chart setup for the $130.26M company. It was reported on Nov, 16 by Barchart.com. We have $2.10 PT which if reached, will make NASDAQ:INSG worth $15.63M less.

According to Zacks Investment Research, “Novatel Wireless, Inc. is a provider of wireless data modems and software for use with handheld computing devices and portable personal computers. The company delivers innovative and comprehensive solutions that enable businesses and consumers to access personal, corporate and public information through email, enterprise networks and the Internet. Novatel Wireless also offers wireless data modems and custom engineering services for hardware integration projects in a wide range of vertical applications. (Company Press Release)”

More recent Novatel Wireless Inc (NASDAQ:INSG) news were published by: Wsj.com which released: “Novatel Wireless to Sell Mobile-Broadband Unit, Restructure Itself” on September 22, 2016. Also Businesswire.com published the news titled: “Novatel Wireless Announces Inseego Corp. as Name of New Holding Company” on November 03, 2016. Globenewswire.com‘s news article titled: “Feeney Wireless Acquired by Novatel Wireless” with publication date: March 30, 2015 was also an interesting one.

INSG Company Profile

Novatel Wireless, Inc., incorporated on April 26, 1996, is a well-known provider of software-as-a-service (SaaS) and solutions for the Internet of Things (IoT). The Firm offers range of products, including mobile hotspots, universal serial bus (USB) modems, embedded modules, integrated asset-management and mobile tracking machine-to-machine (M2M) devices, communications and applications software and cloud services. The Firm sells its telematics solutions under the Ctrack brand, including its fleet management, asset tracking and monitoring, stolen vehicle recovery, and usage insurance platforms. The Firm operates in the wireless communications industry in two product categories: M2M Products and Solutions, and Mobile Computing Solutions. It sells business connectivity solutions and device management services through its subsidiaries. The Company’s products operate on cellular wireless technology platform. It serves approximately 590,000 global subscribers, including 182,000 fleet management subscribers.

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