Inseego Corp. (NASDAQ:INSG) Short Interest Update

Inseego Corp. (NASDAQ:INSG) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 1,380,000 shares, a growth of 11.3% from the October 31st total of 1,240,000 shares. Approximately 9.8% of the company’s stock are short sold. Based on an average daily volume of 235,200 shares, the days-to-cover ratio is currently 5.9 days.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on INSG shares. TD Cowen reduced their price target on shares of Inseego from $20.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Stifel Nicolaus raised their target price on shares of Inseego from $11.00 to $17.00 and gave the stock a “hold” rating in a report on Tuesday, September 17th. Roth Mkm upgraded Inseego from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $15.00 in a research note on Thursday, November 14th. Finally, Roth Capital upgraded Inseego from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 14th.

Inseego Price Performance

Shares of NASDAQ INSG opened at $12.29 on Tuesday. The company’s fifty day moving average price is $16.43 and its 200 day moving average price is $13.02. Inseego has a 1 year low of $1.62 and a 1 year high of $20.67.

Insider Transactions at Inseego

In other news, Chairman Philip G. Brace acquired 10,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were acquired 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 owns 177,763 shares of the company’s stock, valued at approximately $2,204,261.20. This trade represents a 5.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Inseego

Hedge funds have recently modified their holdings of the company. Quarry LP acquired a new position in Inseego in the 3rd quarter worth about $26,000. Covestor Ltd purchased a new position in shares of Inseego during the 3rd quarter valued at approximately $32,000. Barclays PLC grew its stake in Inseego by 71.3% in 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 during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Inseego in the 3rd quarter worth $73,000. Finally, Olympiad Research LP acquired a new position in shares of Inseego during the 3rd quarter worth about $184,000. 34.20% of the stock is owned by hedge funds and other 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.