Inseego (NASDAQ:INSG) Raised to “Strong-Buy” at Roth Capital

Inseego (NASDAQ:INSG) was upgraded by Roth Capital from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

INSG has been the subject of several other reports. Roth Mkm upgraded shares of Inseego from a “neutral” rating to a “buy” rating and increased their price target for the stock from $13.00 to $15.00 in a research note on Thursday. Stifel Nicolaus lifted their target price on shares of Inseego from $11.00 to $17.00 and gave the stock a “hold” rating in a research report on Tuesday, September 17th. Finally, TD Cowen upped their price objective on Inseego from $13.50 to $15.00 and gave the company a “hold” rating in a research report on Wednesday, August 14th.

Inseego Price Performance

Shares of Inseego stock opened at $11.88 on Thursday. The stock has a market capitalization of $145.89 million, a P/E ratio of -6.52 and a beta of 1.60. The business’s 50 day simple moving average is $17.54 and its two-hundred day simple moving average is $12.25. Inseego has a one year low of $1.62 and a one year high of $20.67.

Hedge Funds Weigh In On Inseego

A number of hedge funds have recently made changes to their positions in the business. Quarry LP bought a new position in shares of Inseego in the 3rd quarter valued at about $26,000. Covestor Ltd purchased a new position in shares of Inseego during the third quarter worth approximately $32,000. Barclays PLC raised its stake in shares of Inseego by 71.3% during the third quarter. Barclays PLC now owns 4,051 shares of the technology company’s stock valued at $67,000 after acquiring an additional 1,686 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Inseego in the third quarter valued at approximately $73,000. Finally, Olympiad Research LP purchased a new stake in shares of Inseego in the third quarter valued at approximately $184,000. Institutional investors own 34.20% of the company’s stock.

About Inseego

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.