Inseego (NASDAQ:INSG) Upgraded to “Strong-Buy” at Roth Capital

Roth Capital upgraded shares of Inseego (NASDAQ:INSG) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other research analysts have also commented on the company. Roth Mkm raised Inseego from a “neutral” rating to a “buy” rating and raised their price target for the company from $13.00 to $15.00 in a report on Thursday. Stifel Nicolaus raised their price target on Inseego from $11.00 to $17.00 and gave the company a “hold” rating in a report on Tuesday, September 17th. Finally, TD Cowen raised their price target on Inseego from $13.50 to $15.00 and gave the company a “hold” rating in a report on Wednesday, August 14th.

Inseego Price Performance

Shares of INSG traded down $0.12 during trading hours on Thursday, reaching $12.19. 139,367 shares of the company’s stock traded hands, compared to its average volume of 183,373. The firm has a market capitalization of $149.69 million, a price-to-earnings ratio of -6.89 and a beta of 1.60. Inseego has a twelve month low of $1.62 and a twelve month high of $20.67. The business’s fifty day simple moving average is $17.54 and its two-hundred day simple moving average is $12.25.

Hedge Funds Weigh In On Inseego

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd purchased a new stake in shares of Inseego during the 3rd quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Inseego during the third quarter worth approximately $73,000. Olympiad Research LP acquired a new position in shares of Inseego during the third quarter worth approximately $184,000. Centiva Capital LP acquired a new position in shares of Inseego during the third quarter worth approximately $214,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Inseego during the second quarter valued at approximately $274,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

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.