Inseego (NASDAQ:INSG) Rating Increased to Strong-Buy at Roth Capital

Roth Capital upgraded shares of Inseego (NASDAQ:INSG) from a hold rating to a strong-buy rating in a report published on Thursday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus raised their price objective on Inseego from $11.00 to $17.00 and gave the stock a “hold” rating in a research report on Tuesday, September 17th. TD Cowen raised their price target on shares of Inseego from $13.50 to $15.00 and gave the stock a “hold” rating in a report on Wednesday, August 14th. Finally, Roth Mkm raised shares of Inseego from a “neutral” rating to a “buy” rating and upped their price objective for the company from $13.00 to $15.00 in a research note on Thursday.

Inseego Stock Down 3.5 %

NASDAQ INSG opened at $11.88 on Thursday. The company has a market capitalization of $177.61 million, a price-to-earnings ratio of -6.60 and a beta of 1.60. Inseego has a twelve month low of $1.62 and a twelve month high of $20.67. The stock has a fifty day simple moving average of $17.49 and a 200 day simple moving average of $12.37.

Hedge Funds Weigh In On Inseego

A number of institutional investors and hedge funds have recently modified their holdings of INSG. Aviva Holdings Ltd. bought a new stake in shares of Inseego in the 3rd quarter valued at $41,219,000. Jane Street Group LLC grew its holdings in Inseego by 142.9% in the third quarter. Jane Street Group LLC now owns 24,307 shares of the technology company’s stock worth $397,000 after purchasing an additional 80,996 shares during the period. Marshall Wace LLP bought a new stake in Inseego in the second quarter valued at $833,000. Renaissance Technologies LLC acquired a new position in shares of Inseego during the second quarter valued at about $274,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Inseego during the 3rd quarter worth about $353,000. 34.20% of the stock is currently owned by institutional investors.

Inseego Company Profile

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.