Novatel Wireless (NASDAQ:MIFI) has shown a rise of 1.7% or 91,123 shares in the short positions. The bets have increased to 5,392,486 shares on June 15,2016 from 5,301,363 shares on May 31,2016. With respect to the floated shares, the shorts are 19%. The days to cover are calculated to be 25, using the standard per day volume of 212,766 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Novatel Wireless (NASDAQ:MIFI): The stock opened at $1.61 on Friday but the bulls could not build on the opening and the stock topped out at $1.65 for the day. The stock traded down to $1.53 during the day, due to lack of any buying support eventually closed down at $1.59 with a loss of -5.36% for the day. The stock had closed at $1.68 on the previous day. The total traded volume was 3,253,524 shares.
The company shares have dropped -50.16% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $3.33 and the one year low was seen on Jan 28, 2016. The 50-Day Moving Average price is $1.47 and the 200 Day Moving Average price is recorded at $1.50.
Novatel Wireless (NASDAQ:MIFI) has tumbled 1.85% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 10.42% in the last four weeks. The stocks have underperformed the S&P 500 by 0.22% during the past week but Novatel Wireless (NASDAQ:MIFI) it has outperformed the index in 4 weeks by 13.76%.
Novatel Wireless, Inc. is engaged in designing and development of machine-to-machine (M2M) wireless solutions based on third generation (3G) and fourth generation (4G) technologies. The Company delivers Internet of Things (IoT) and Cloud SaaS services to carriers, distributors, retailers, original equipment manufacturers (OEMs), and vertical markets worldwide. The Companys product lines include MiFi mobile hotspots, universal serial bus (USB) modems, embedded modules, mobile tracking solutions and asset tracking solutions. These products provide anywhere, anytime communications solutions for consumers and enterprises. The Company is headquartered in San Diego, California.