TD Cowen Lowers Inseego (NASDAQ:INSG) Price Target to $16.00

Inseego (NASDAQ:INSG) had its price target dropped by TD Cowen from $20.00 to $16.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. TD Cowen’s target price suggests a potential upside of 34.68% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Roth Capital raised shares of Inseego from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Stifel Nicolaus upped their price target on shares of Inseego from $11.00 to $17.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th. Finally, Roth Mkm raised shares of Inseego from a “neutral” rating to a “buy” rating and increased their price target for the company from $13.00 to $15.00 in a report on Thursday.

Inseego Stock Down 3.5 %

INSG opened at $11.88 on Friday. The stock has a market cap of $177.67 million, a price-to-earnings ratio of -6.60 and a beta of 1.60. Inseego has a 12-month low of $1.62 and a 12-month high of $20.67. The business has a 50 day moving average of $17.49 and a 200-day moving average of $12.31.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Inseego in the third quarter valued at about $26,000. Covestor Ltd bought a new stake in Inseego in the 3rd quarter valued at about $32,000. Barclays PLC grew its position in shares of Inseego by 71.3% during the 3rd quarter. Barclays PLC now owns 4,051 shares of the technology company’s stock worth $67,000 after purchasing an additional 1,686 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Inseego during the third quarter worth approximately $73,000. Finally, Olympiad Research LP bought a new position in shares of Inseego during the third quarter worth approximately $184,000. Institutional investors 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.