Inseego Corp. (NASDAQ:INSG) Chairman Acquires $124,000.00 in Stock

Inseego Corp. (NASDAQ:INSG) Chairman Philip G. Brace acquired 10,000 shares of the company’s stock in a transaction dated 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 completion of the acquisition, the chairman now directly owns 177,763 shares in the company, valued at $2,204,261.20. The trade was a 5.96 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Inseego Stock Performance

Shares of NASDAQ INSG opened at $12.81 on Wednesday. The firm’s fifty day moving average is $17.43 and its two-hundred day moving average is $12.49. Inseego Corp. has a 52-week low of $1.62 and a 52-week high of $20.67. The company has a market cap of $191.43 million, a P/E ratio of -7.11 and a beta of 1.60.

Hedge Funds Weigh In On Inseego

Several large investors have recently modified their holdings of INSG. Renaissance Technologies LLC bought a new position in shares of Inseego in the second quarter worth about $274,000. Marshall Wace LLP purchased a new stake in shares of Inseego during the 2nd quarter worth $833,000. Olympiad Research LP bought a new stake in shares of Inseego in the 3rd quarter valued at about $184,000. Covestor Ltd acquired a new stake in Inseego in the third quarter valued at approximately $32,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Inseego in the 3rd quarter worth $353,000. Institutional investors own 34.20% of the company’s stock.

Wall Street Analysts Forecast Growth

INSG has been the subject of several recent research reports. Stifel Nicolaus boosted their price objective on Inseego from $11.00 to $17.00 and gave the company a “hold” rating in a research report on Tuesday, September 17th. Roth Capital raised Inseego from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 14th. Roth Mkm raised Inseego from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $15.00 in a research report on Thursday, November 14th. Finally, TD Cowen cut their price target on shares of Inseego from $20.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, November 15th.

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.