BidaskClub downgraded shares of Boingo Wireless (NASDAQ:WIFI) from a hold rating to a sell rating in a research report released on Thursday morning.

WIFI has been the topic of several other research reports. Zacks Investment Research cut Boingo Wireless from a buy rating to a hold rating in a report on Wednesday, November 8th. Credit Suisse Group raised their price objective on Boingo Wireless from $24.00 to $26.00 and gave the stock an outperform rating in a report on Friday, November 3rd. Craig Hallum increased their target price on Boingo Wireless from $24.00 to $28.00 and gave the stock a buy rating in a research report on Friday, November 3rd. Jefferies Group increased their target price on Boingo Wireless from $20.00 to $27.00 and gave the stock a buy rating in a research report on Friday, November 3rd. Finally, Oppenheimer reaffirmed a buy rating and issued a $30.00 target price on shares of Boingo Wireless in a research report on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $23.94.

Boingo Wireless (NASDAQ:WIFI) traded down $0.12 during mid-day trading on Thursday, hitting $22.94. The stock had a trading volume of 257,200 shares, compared to its average volume of 326,475. Boingo Wireless has a 1-year low of $10.46 and a 1-year high of $25.99. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $935.84, a PE ratio of -39.55 and a beta of 0.53.

Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. Boingo Wireless had a negative return on equity of 23.62% and a negative net margin of 11.75%. The business had revenue of $53.66 million for the quarter, compared to analysts’ expectations of $50.22 million. During the same quarter last year, the firm earned ($0.15) earnings per share. The business’s revenue was up 31.5% on a year-over-year basis. sell-side analysts forecast that Boingo Wireless will post -0.58 EPS for the current year.

In related news, insider Dawn Callahan sold 11,437 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $22.85, for a total value of $261,335.45. Following the transaction, the insider now directly owns 11,370 shares of the company’s stock, valued at approximately $259,804.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter Hovenier sold 10,000 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $23.75, for a total value of $237,500.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at $237,500. The disclosure for this sale can be found here. Insiders sold a total of 96,437 shares of company stock worth $2,317,085 over the last ninety days. Corporate insiders own 7.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its position in Boingo Wireless by 1.3% in the second quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock valued at $156,000 after purchasing an additional 135 shares during the period. Legal & General Group Plc raised its position in Boingo Wireless by 3.9% in the second quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock valued at $137,000 after purchasing an additional 341 shares during the period. The Manufacturers Life Insurance Company raised its position in Boingo Wireless by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 30,153 shares of the technology company’s stock valued at $452,000 after purchasing an additional 1,178 shares during the period. Aperio Group LLC raised its position in Boingo Wireless by 21.4% in the third quarter. Aperio Group LLC now owns 13,306 shares of the technology company’s stock valued at $284,000 after purchasing an additional 2,342 shares during the period. Finally, Great West Life Assurance Co. Can purchased a new position in Boingo Wireless in the third quarter valued at about $114,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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About Boingo Wireless

Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (DAS) services. The Company operates as a service 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.

Analyst Recommendations for Boingo Wireless (NASDAQ:WIFI)

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