Dynamic Technology Lab Private Ltd Makes New Investment in Inseego Corp. (NASDAQ:INSG)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Inseego Corp. (NASDAQ:INSG) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 21,608 shares of the technology company’s stock, valued at approximately $353,000.

Several other large investors have also made changes to their positions in INSG. Marshall Wace LLP acquired a new stake in Inseego in the second quarter valued at approximately $833,000. Renaissance Technologies LLC bought a new position in shares of Inseego during the 2nd quarter valued at $274,000. Olympiad Research LP acquired a new stake in shares of Inseego in the 3rd quarter valued at $184,000. Finally, Covestor Ltd bought a new stake in Inseego in the third quarter worth $32,000. Institutional investors own 34.20% of the company’s stock.

Insider Transactions at Inseego

In related news, Chairman Philip G. Brace acquired 10,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $12.40 per share, with a total value of $124,000.00. Following the completion of the transaction, the chairman now owns 177,763 shares of the company’s stock, valued at approximately $2,204,261.20. This represents a 5.96 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

INSG has been the topic of several recent research reports. Roth Capital upgraded Inseego from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 14th. Stifel Nicolaus raised their price objective on Inseego from $11.00 to $17.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th. TD Cowen decreased their target price on Inseego from $20.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Finally, Roth Mkm raised shares of Inseego from a “neutral” rating to a “buy” rating and lifted their price target for the company from $13.00 to $15.00 in a research report on Thursday, November 14th.

Inseego Stock Performance

NASDAQ INSG opened at $11.94 on Friday. The stock has a 50-day simple moving average of $16.53 and a 200 day simple moving average of $12.93. Inseego Corp. has a twelve month low of $1.62 and a twelve month high of $20.67. The stock has a market capitalization of $178.56 million, a PE ratio of -6.63 and a beta of 1.60.

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.