Stifel Nicolaus Cuts Inseego (NASDAQ:INSG) Price Target to $12.00

Inseego (NASDAQ:INSG) had its price target reduced by investment analysts at Stifel Nicolaus from $17.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 11.01% from the company’s previous close.

A number of other equities research analysts have also recently commented on INSG. Roth Capital upgraded shares of Inseego from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 14th. TD Cowen reduced their target price on Inseego from $20.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, November 15th. Finally, Roth Mkm raised Inseego from a “neutral” rating to a “buy” rating and upped their price target for the stock from $13.00 to $15.00 in a research note on Thursday, November 14th.

Inseego Stock Down 0.6 %

Shares of INSG stock opened at $10.81 on Friday. The firm has a 50 day moving average of $14.66 and a 200-day moving average of $13.31. The company 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 52 week low of $1.62 and a 52 week high of $20.67.

Insider Buying and Selling at Inseego

In other Inseego news, Chairman Philip G. Brace bought 10,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $12.40 per share, with a total value of $124,000.00. Following the completion of the transaction, the chairman now directly owns 177,763 shares in the company, valued at approximately $2,204,261.20. The trade was a 5.96 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Inseego

A number of hedge funds have recently added to or reduced their stakes in INSG. Quarry LP purchased a new stake in shares of Inseego in the third quarter worth approximately $26,000. Barclays PLC grew its holdings in Inseego by 71.3% during the third quarter. Barclays PLC now owns 4,051 shares of the technology company’s stock worth $67,000 after buying an additional 1,686 shares in the last quarter. Covestor Ltd purchased a new stake in Inseego in the 3rd quarter valued at $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Inseego during the 3rd quarter valued at $73,000. Finally, Geode Capital Management LLC grew its stake in shares of Inseego by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 104,304 shares of the technology company’s stock worth $1,704,000 after acquiring an additional 7,325 shares in the last quarter. 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.