Stifel Nicolaus Cuts Inseego (NASDAQ:INSG) Price Target to $12.00

Inseego (NASDAQ:INSG) had its price objective lowered by Stifel Nicolaus from $17.00 to $12.00 in a research note published on Friday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the technology company’s stock.

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

Inseego Price Performance

INSG stock opened at $10.81 on Friday. The business’s 50-day moving average is $14.66 and its two-hundred day moving average is $13.35. The firm has a market capitalization of $161.66 million, a P/E ratio of -6.01 and a beta of 1.48. Inseego has a 1 year low of $1.62 and a 1 year high of $20.67.

Insider Buying and Selling at Inseego

In related news, Chairman Philip G. Brace acquired 10,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was bought at an average price of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the purchase, the chairman now directly owns 177,763 shares of the company’s stock, valued at approximately $2,204,261.20. The trade was a 5.96 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Inseego

A number of hedge funds and other institutional investors have recently made changes to their positions in INSG. Quarry LP purchased a new position in Inseego during the 3rd quarter worth approximately $26,000. Covestor Ltd acquired a new stake in shares of Inseego in the third quarter valued at approximately $32,000. Barclays PLC grew its position in shares of Inseego by 71.3% during the third 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 last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Inseego in the 3rd quarter valued at $73,000. Finally, Olympiad Research LP purchased a new stake in Inseego in the 3rd quarter valued at $184,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

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.