Inseego (NASDAQ:INSG) Price Target Lowered to $16.00 at TD Cowen

Inseego (NASDAQ:INSG) had its price target decreased by TD Cowen from $20.00 to $16.00 in a research report released on Friday,Benzinga reports. TD Cowen currently has a hold rating on the technology company’s stock.

A number of other brokerages have also issued reports on INSG. Stifel Nicolaus lifted their target price on Inseego from $11.00 to $17.00 and gave the stock a “hold” rating in a research report on Tuesday, September 17th. Roth Mkm raised Inseego from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $15.00 in a research report on Thursday, November 14th. Finally, Roth Capital raised Inseego from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 14th.

Inseego Price Performance

NASDAQ:INSG opened at $12.84 on Friday. The business’s 50-day moving average is $17.49 and its two-hundred day moving average is $12.42. Inseego has a 12 month low of $1.62 and a 12 month high of $20.67. The firm has a market capitalization of $191.96 million, a PE ratio of -7.17 and a beta of 1.60.

Insider Activity at Inseego

In other news, Chairman Philip G. Brace acquired 10,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $12.40 per share, with a total value of $124,000.00. Following the completion of the acquisition, the chairman now directly owns 177,763 shares in the company, valued at $2,204,261.20. This represents a 5.96 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Inseego

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Inseego by 7.6% in the third quarter. Geode Capital Management LLC now owns 104,304 shares of the technology company’s stock valued at $1,704,000 after acquiring an additional 7,325 shares during the period. Barclays PLC boosted its stake in Inseego by 71.3% in 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 during the period. XTX Topco Ltd acquired a new position in Inseego in the third quarter valued at approximately $277,000. Jane Street Group LLC boosted its stake in Inseego by 142.9% in the third quarter. Jane Street Group LLC now owns 24,307 shares of the technology company’s stock valued at $397,000 after acquiring an additional 80,996 shares during the period. Finally, Quarry LP acquired a new position in Inseego in the third quarter valued at approximately $26,000. 34.20% of the stock is 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.