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

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

A number of other equities analysts also recently commented on the company. Roth Capital raised Inseego from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 14th. Roth Mkm upgraded shares of 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 report on Thursday, November 14th. Finally, TD Cowen decreased their price objective 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.

Inseego Trading Down 0.6 %

NASDAQ:INSG opened at $10.81 on Friday. Inseego has a 12-month low of $1.62 and a 12-month high of $20.67. The firm has a market cap of $161.66 million, a PE ratio of -6.01 and a beta of 1.48. The stock has a fifty day moving average price of $14.66 and a 200 day moving average price of $13.28.

Insiders Place Their Bets

In other news, Chairman Philip G. Brace bought 10,000 shares of Inseego stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $12.40 per share, with a total value of $124,000.00. Following 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 legal filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Aviva Holdings Ltd. purchased a new position in shares of Inseego during the third quarter worth approximately $41,219,000. Geode Capital Management LLC grew its position in Inseego by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 104,304 shares of the technology company’s stock worth $1,704,000 after purchasing an additional 7,325 shares during the last quarter. Marshall Wace LLP acquired a new position in Inseego in the second quarter valued at $833,000. Renaissance Technologies LLC purchased a new stake in shares of Inseego in the second quarter valued at about $274,000. Finally, Jane Street Group LLC boosted its stake in shares of Inseego by 142.9% during the third quarter. Jane Street Group LLC now owns 24,307 shares of the technology company’s stock worth $397,000 after buying an additional 80,996 shares during the period. 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.