Novatel Wireless (MIFI) : Traders are bullish on Novatel Wireless (MIFI) as it has outperformed the S&P 500 by a wide margin of 58.74% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 23.72%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 23.79% in the last 1 week, and is up 60.38% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 34.42% and the 50-Day Moving Average is 50.11%. Novatel Wireless (NASDAQ:MIFI): stock turned positive on Friday. Though the stock opened at $2.5, the bulls momentum made the stock top out at $2.59 level for the day. The stock recorded a low of $2.45 and closed the trading day at $2.55, in the green by 3.24%. The total traded volume for the day was 569,419. The stock had closed at $2.47 in the previous days trading.
The company Insiders own 3.83% of Novatel Wireless shares according to the proxy statements. Institutional Investors own 14.51% of Novatel Wireless shares. During last six month period, the net percent change held by insiders has seen a change of 47.77%.
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.