Novatel Wireless Stock Falls On Unusually High Volume (NVTL)

NEW YORK (TheStreet) -- Novatel Wireless (Nasdaq:NVTL) is trading at unusually high volume Friday with 2.2 million shares changing hands. It is currently at 4.3 times its average daily volume and trading down $1.33 (-28.6%) at $3.32 as of 2:52 p.m. ET.

Novatel Wireless has a market cap of $160.6 million and is part of the technology sector and telecommunications industry. Shares are down 51.3% year to date as of the close of trading on Thursday.

Novatel Wireless, Inc. provides wireless broadband access solutions for the mobile communications market worldwide. The company primarily offers third generation (3G) products.

TheStreet Ratings rates Novatel Wireless as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins, weak operating cash flow and generally disappointing historical performance in the stock itself. You can view the full Novatel Wireless Ratings Report.

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