Price Don’t Lie: Could Boingo Wireless Inc Change Direction After Making 52-Week High?

Price Don't Lie: Could Boingo Wireless Inc Change Direction After Making 52 Week High?

The stock of Boingo Wireless Inc (NASDAQ:WIFI) hit a new 52-week high and has $20.45 target or 72.00% above today’s $11.89 share price. The 9 months bullish chart indicates low risk for the $460.78 million company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $20.45 price target is reached, the company will be worth $331.76 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 156,620 shares traded hands. Boingo Wireless Inc (NASDAQ:WIFI) has risen 56.54% since April 19, 2016 and is uptrending. It has outperformed by 52.68% the S&P500.

Boingo Wireless Inc (NASDAQ:WIFI) Ratings Coverage

Out of 6 analysts covering Boingo Wireless (NASDAQ:WIFI), 4 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. Boingo Wireless has been the topic of 9 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was upgraded by Zacks on Tuesday, September 22 to “Hold”. The company was maintained on Monday, August 10 by DA Davidson. Craig Hallum maintained the shares of WIFI in a report on Friday, November 4 with “Buy” rating. The firm has “Sell” rating given on Monday, July 11 by BTIG Research. The firm has “Buy” rating given on Monday, June 20 by Lake Street. Craig Hallum initiated the stock with “Buy” rating in Tuesday, July 21 report.

According to Zacks Investment Research, “Boingo Wireless, Inc. is a Wi-Fi software and services provider. Boingo users can access the mobile Internet via Boingo Network locations that include the airports, hotel chains, cafés and coffee shops, restaurants, convention centers and metropolitan hot zones. The company provides its solutions to individual users and partners consisting of telecom operators, network operators, cable companies, technology companies, enterprise software and services companies, and communications companies. Boingo Wireless, Inc. is headquartered in Los Angeles, California.”

Insitutional Activity: The institutional sentiment increased to 1.14 in 2016 Q2. Its up 0.14, from 1 in 2016Q1. The ratio increased, as 15 funds sold all Boingo Wireless Inc shares owned while 31 reduced positions. 9 funds bought stakes while 37 increased positions. They now own 29.97 million shares or 12.07% less from 34.08 million shares in 2016Q1.
Da Davidson Communication has 0% invested in the company for 1,969 shares. Citigroup holds 5,340 shares or 0% of its portfolio. Vanguard Grp Inc holds 0% or 1.41 million shares in its portfolio. Blackrock Institutional Tru Na accumulated 615,075 shares or 0% of the stock. Manufacturers Life Insur Com The accumulated 26,678 shares or 0% of the stock. Spot Trading Llc has 1,200 shares for 0% of their US portfolio. White Pine Ltd has 304,928 shares for 1.14% of their US portfolio. Allianz Asset Ag has 506,922 shares for 0% of their US portfolio. California State Teachers Retirement System, a California-based fund reported 74,686 shares. The New York-based Jpmorgan Chase & has invested 0% in Boingo Wireless Inc (NASDAQ:WIFI). Awm Inv Co last reported 355,026 shares in the company. Sarbit Advisory last reported 126,765 shares in the company. Goldman Sachs Grp reported 39,077 shares or 0% of all its holdings. Panagora Asset Management owns 81,236 shares or 0% of their US portfolio. Blackrock Fund Advisors holds 0% or 1.24 million shares in its portfolio.

Insider Transactions: Since September 1, 2016, the stock had 0 buys, and 3 sales for $280,325 net activity. Another trade for 12,500 shares valued at $125,375 was made by Callahan Dawn on Monday, October 3. On Thursday, September 1 the insider Tracey Tom sold $31,650.

More news for Boingo Wireless Inc (NASDAQ:WIFI) were recently published by: Marketwatch.com, which released: “Boingo Wireless started at sell with $6.85 stock price target at BTIG” on February 08, 2011. Quotes.Wsj.com‘s article titled: “News Boingo Wireless Inc.WIFI” and published on April 29, 2011 is yet another important article.

WIFI Company Profile

Boingo Wireless, Inc., incorporated on April 16, 2001, is a well-known provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (DAS) services for carriers. The Firm operates as a service well-known provider of wireless connectivity solutions across its managed and operated network and aggregated network for mobile devices such as laptops, smartphones, tablets and other wireless-enabled consumer devices segment. The Firm has established wireless networks that provide high-speed, high-bandwidth wireless connectivity to smartphones, tablets, laptops, wearables, the Internet of Things (IoT) and other wireless-enabled devices. The Company’s wireless networks include DAS, femto-cell, and Wi-Fi networks that it manages and operates, which it refers to as managed and operated locations, as well as Wi-Fi networks managed and operated by third-parties with whom it contract for access (roaming networks). The Company’s managed and operated locations are typically located in large venues with big audiences, such as airports, stadiums, arenas, military bases, universities, big box retailers, convention centers and office buildings. It installs wireless network infrastructure in these locations, which generally have exclusive multi-year agreements, and then monetize these networks in a number of ways. It also sells advertising on other Wi-Fi networks that are not part of its network on behalf of the network owner. The Company’s services include DAS or Femto-Cell, Wholesale-Wi-Fi, Retail, Military and Advertising.

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