Inseego (NASDAQ:INSG) Given New $12.00 Price Target at Stifel Nicolaus

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

A number of other brokerages have also issued reports on INSG. Roth Capital upgraded shares of Inseego from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 14th. TD Cowen dropped their target price on Inseego from $20.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. Finally, 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, November 14th.

Inseego Price Performance

NASDAQ:INSG opened at $10.81 on Friday. The firm has a market cap of $161.66 million, a price-to-earnings 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. The firm’s fifty day moving average price is $14.66 and its 200 day moving average price is $13.28.

Insider Activity at Inseego

In other news, Chairman Philip G. Brace acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased 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 of the company’s stock, valued at approximately $2,204,261.20. This trade represents a 5.96 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Inseego

Several large investors have recently bought and sold shares of INSG. Quarry LP acquired a new position in shares of Inseego during the 3rd quarter worth $26,000. Covestor Ltd acquired a new position in Inseego during the third quarter worth about $32,000. Barclays PLC lifted its holdings in shares of 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Inseego in the third quarter valued at about $73,000. Finally, Olympiad Research LP acquired a new stake in shares of Inseego in the third quarter valued at approximately $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.