Stifel Nicolaus Issues Pessimistic Forecast for Inseego (NASDAQ:INSG) Stock Price

Inseego (NASDAQ:INSG) had its price objective reduced by stock analysts at Stifel Nicolaus from $17.00 to $12.00 in a report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 11.42% from the stock’s current price.

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

Inseego Stock Down 1.0 %

Inseego stock traded down $0.11 during mid-day trading on Friday, reaching $10.77. The company had a trading volume of 13,646 shares, compared to its average volume of 183,434. The company has a 50 day moving average of $14.84 and a 200-day moving average of $13.26. Inseego has a 52 week low of $1.62 and a 52 week high of $20.67. The firm has a market cap of $161.07 million, a price-to-earnings ratio of -5.98 and a beta of 1.48.

Insider Buying and Selling

In related news, Chairman Philip G. Brace bought 10,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $12.40 per share, with a total value of $124,000.00. Following the purchase, the chairman now 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 acquisition was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by company insiders.

Institutional Trading of Inseego

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Aviva Holdings Ltd. purchased a new position in Inseego during the third quarter valued at $41,219,000. Geode Capital Management LLC increased its holdings in shares of 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 last quarter. Marshall Wace LLP purchased a new position in shares of Inseego in the second quarter valued at $833,000. Renaissance Technologies LLC bought a new stake in shares of Inseego in the 2nd quarter worth about $274,000. Finally, Jane Street Group LLC lifted its position in Inseego by 142.9% in 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 last quarter. Hedge funds and other 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.