Novatel Wireless Inc (MIFI) was Reiterated by Lake Street to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 3 from a previous price target of $2.50 . Lake Street advised their investors in a research report released on Aug 15, 2016.
Novatel Wireless Inc opened for trading at $2.5 and hit $2.59 on the upside on Friday, eventually ending the session at $2.55, with a gain of 3.24% or 0.08 points. The heightened volatility saw the trading volume jump to 5,69,419 shares. Company has a market cap of $137 M.
In a different news, on Sep 16, 2015, Alex Mashinsky (CEO) purchased 53,000 shares at $2.34 per share price. According to the SEC, on Aug 13, 2015, Russell Gerns (director) purchased 10,000 shares at $2.49 per share price.
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.