Inseego (NASDAQ:INSG) Price Target Cut to $12.00 by Analysts at Stifel Nicolaus

Inseego (NASDAQ:INSGFree Report) had its target price trimmed by Stifel Nicolaus from $17.00 to $12.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

INSG has been the topic of several other reports. Roth Mkm raised shares of Inseego from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $15.00 in a research note on Thursday, November 14th. TD Cowen dropped their price target on shares of Inseego from $20.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Finally, Roth Capital upgraded shares of Inseego from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 14th.

View Our Latest Stock Report on INSG

Inseego Trading Down 0.6 %

Shares of INSG stock opened at $10.81 on Friday. Inseego has a twelve month low of $1.62 and a twelve month high of $20.67. The business’s 50 day moving average is $14.66 and its two-hundred day moving average is $13.35. The company has a market capitalization of $161.66 million, a P/E ratio of -6.01 and a beta of 1.48.

Insider Transactions at Inseego

In other news, Chairman Philip G. Brace purchased 10,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $12.40 per share, with a total value of $124,000.00. Following the purchase, the chairman now directly owns 177,763 shares of the company’s stock, valued at $2,204,261.20. The trade was a 5.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Inseego

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in Inseego in the second quarter valued at $274,000. Marshall Wace LLP acquired a new stake in Inseego in the 2nd quarter valued at about $833,000. Aviva Holdings Ltd. purchased a new position in Inseego during the 3rd quarter valued at about $41,219,000. Covestor Ltd acquired a new position in Inseego during the third quarter worth about $32,000. Finally, XTX Topco Ltd purchased a new stake in shares of Inseego in the third quarter valued at about $277,000. 34.20% of the stock is owned by hedge funds and other institutional investors.

Inseego Company Profile

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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.

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