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

Inseego (NASDAQ:INSG) had its price objective decreased by TD Cowen from $20.00 to $16.00 in a research report sent to investors on Friday,Benzinga reports. TD Cowen currently has a hold rating on the technology company’s stock.

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

Inseego Stock Performance

NASDAQ INSG traded down $0.43 during trading hours on Friday, hitting $11.88. The company had a trading volume of 360,043 shares, compared to its average volume of 184,367. Inseego has a 52 week low of $1.62 and a 52 week high of $20.67. The firm has a 50 day simple moving average of $17.49 and a 200 day simple moving average of $12.31. The firm has a market capitalization of $145.89 million, a price-to-earnings ratio of -6.60 and a beta of 1.60.

Hedge Funds Weigh In On Inseego

Several hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of Inseego during the third quarter valued at approximately $26,000. Barclays PLC boosted its position in shares of Inseego by 71.3% during 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. Covestor Ltd bought a new stake in shares of Inseego during the third quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Inseego in the third quarter worth $73,000. Finally, Geode Capital Management LLC grew its stake in Inseego by 7.6% in the third 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 period. 34.20% of the stock is owned by hedge funds and other institutional investors.

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.