Is This the Right Time to Novatel Wireless Inc (NASDAQ:MIFI) Stock to Your Portfolio?

[EDGAR] Novatel Wireless Inc (NASDAQ:MIFI)(TREND ANALYSIS) As described in Item 5.07 below, at a special meeting of the stockholders of Novatel Wireless, Inc., a Delaware corporation (the “Company”), held on August 31, 2015 (the “Special Meeting”), the Company’s stockholders approved an amendment to the Company’s Amended and Restated Certificate of Incorporation to increase the number of authorized shares of the Company’s common stock (the “Certificate of Amendment”). The Company filed the Certificate of Amendment with the Secretary of State of the State of Delaware and it became effective on September 1, 2015. The foregoing description of the Certificate of Amendment is qualified in its entirety by reference to the full text of the Certificate of Amendment, which is attached hereto as Exhibit 3.1 and is incorporated herein by reference.

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Novatel Wireless Inc (NASDAQ:MIFI) stock is currently trading 66.18% below its 52-week-high, 22.63% above its 52-week-low. The 1-year stock price history is in the range of $1.9 – $6.89. Novatel Wireless Inc (MIFI) has a price to book ratio of 1.95 versus Technology sector average of 2.44. MIFI stock price has underperformed the Nasdaq by 27.6%. The Wireless Equipment company is currently valued at $0.12 billion and its share price closed the last trading session at $2.33. The stock has a 50-day moving average of $2.49 and a 200-day moving average of $3.84.

Novatel Wireless Inc (MIFI) current short interest stands at 5.69 million shares. It has increased by 17% from the same period of last month. Around 19% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.31 million shares, the number of days required to cover the short positions stand at 18.7 days.

The company is expected to announce next quarter earnings on November 05, at consensus estimate of $-0.04.

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There are currently two analysts that cover Novatel Wireless Inc stock. Of those two, one has a Buy rating, one has a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $4.5.

A recent analyst activity consisted of CanaccordGenuity reiterating their Hold stance on August 7. CanaccordGenuity decreased price target from $5.5 to $3. This corresponds to a 28.76% upside from the last closing price. On the date of report, the stock closed at $2.36.

H.C. Wainwright initiated their coverage on the stock with Buy rating on July 9. On the date of report, the stock closed at $2.87.

Company profile

Novatel Wireless, Inc. provides wireless data communications access solutions. The Company provides wireless data modems and software for use with handheld computing devices and portable personal electronics. Novatel also offers provisioning, activation, and systems integration services to its customers to facilitate use of its products.

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