Inseego (NASDAQ:INSG - Get Free Report) had its price objective dropped by stock analysts at TD Cowen from $20.00 to $16.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "hold" rating on the technology company's stock. TD Cowen's target price would suggest a potential upside of 34.68% from the company's previous close.
Several other research analysts have also recently issued reports on the company. Roth Mkm raised Inseego from a "neutral" rating to a "buy" rating and lifted their target price for the company from $13.00 to $15.00 in a research report on Thursday. Roth Capital upgraded shares of Inseego from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Finally, Stifel Nicolaus raised their price target on shares of Inseego from $11.00 to $17.00 and gave the company a "hold" rating in a research report on Tuesday, September 17th.
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Inseego Price Performance
Shares of NASDAQ:INSG traded down $0.43 during midday trading on Friday, hitting $11.88. 360,043 shares of the company's stock were exchanged, compared to its average volume of 184,367. Inseego has a 12 month low of $1.62 and a 12 month high of $20.67. The company has a market cap of $177.67 million, a PE ratio of -6.60 and a beta of 1.60. The stock has a 50 day moving average price of $17.49 and a 200-day moving average price of $12.31.
Hedge Funds Weigh In On Inseego
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in Inseego in the third quarter valued at approximately $26,000. Covestor Ltd purchased a new position in shares of Inseego during the 3rd quarter valued at $32,000. Barclays PLC grew its stake in shares of Inseego by 71.3% during the 3rd quarter. Barclays PLC now owns 4,051 shares of the technology company's stock worth $67,000 after acquiring an additional 1,686 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Inseego during the 3rd quarter worth $73,000. Finally, Olympiad Research LP purchased a new stake in Inseego in the 3rd quarter worth about $184,000. 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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