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

Inseego (NASDAQ:INSG) had its target price cut by TD Cowen from $20.00 to $16.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a hold rating on the technology company’s stock.

Several other equities research analysts have also recently commented on INSG. Roth Mkm raised 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 report on Thursday, November 14th. Roth Capital raised Inseego from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus boosted their target price on Inseego from $11.00 to $17.00 and gave the stock a “hold” rating in a report on Tuesday, September 17th.

Inseego Price Performance

Shares of NASDAQ:INSG opened at $12.84 on Friday. Inseego has a 12 month low of $1.62 and a 12 month high of $20.67. The stock has a market cap of $191.96 million, a price-to-earnings ratio of -7.17 and a beta of 1.60. The stock’s 50 day moving average price is $17.49 and its 200 day moving average price is $12.42.

Insider Buying and Selling at Inseego

In other news, Chairman Philip G. Brace bought 10,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $12.40 per share, with a total value of $124,000.00. Following the purchase, the chairman now directly owns 177,763 shares in the company, valued at $2,204,261.20. This trade represents a 5.96 % increase in their ownership of the stock. The transaction was disclosed in a document filed 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

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in Inseego during the 2nd quarter valued at $274,000. Marshall Wace LLP purchased a new position in shares of Inseego during the 2nd quarter valued at $833,000. Covestor Ltd purchased a new position in shares of Inseego during the 3rd quarter valued at $32,000. Olympiad Research LP purchased a new position in shares of Inseego during the 3rd quarter valued at $184,000. Finally, Barclays PLC grew its holdings in shares of Inseego by 71.3% during the 3rd 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. 34.20% of the stock is owned by institutional investors and hedge funds.

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.