Inseego Corp. (NASDAQ:INSG) Short Interest Update

Inseego Corp. (NASDAQ:INSG) was the recipient of a large decline in short interest in January. As of January 31st, there was short interest totalling 990,600 shares, a decline of 9.9% from the January 15th total of 1,100,000 shares. Based on an average daily volume of 186,600 shares, the short-interest ratio is currently 5.3 days. Currently, 7.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Roth Mkm raised Inseego from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $13.00 to $15.00 in a report on Thursday, November 14th. Stifel Nicolaus reduced their target price on Inseego from $17.00 to $12.00 and set a “hold” rating for the company in a report on Friday, December 20th. TD Cowen reduced their target price on Inseego from $20.00 to $16.00 and set a “hold” rating for the company in a report on Friday, November 15th. Finally, Roth Capital raised Inseego from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 14th.

Inseego Stock Down 1.6 %

INSG stock opened at $12.91 on Tuesday. The firm has a market cap of $193.13 million, a PE ratio of -7.17 and a beta of 1.50. The business has a 50 day moving average of $11.44 and a 200-day moving average of $13.77. Inseego has a 12-month low of $2.08 and a 12-month high of $20.67.

Hedge Funds Weigh In On Inseego

Several institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new position in Inseego in the third quarter valued at approximately $26,000. Barclays PLC lifted 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 purchasing an additional 1,686 shares during the last quarter. Northern Trust Corp lifted its stake in Inseego by 9.2% in the fourth quarter. Northern Trust Corp now owns 21,962 shares of the technology company’s stock valued at $225,000 after purchasing an additional 1,854 shares during the last quarter. Covestor Ltd purchased a new position in Inseego in the third quarter valued at approximately $32,000. Finally, BNP Paribas Financial Markets lifted its stake in Inseego by 258.1% in the fourth quarter. BNP Paribas Financial Markets now owns 4,924 shares of the technology company’s stock valued at $51,000 after purchasing an additional 3,549 shares during the last quarter. Hedge funds and other institutional investors 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.