Inseego Corp. (NASDAQ:INSG) Short Interest Update

Inseego Corp. (NASDAQ:INSG) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 990,600 shares, a decrease of 9.9% from the January 15th total of 1,100,000 shares. Based on an average trading volume of 186,600 shares, the days-to-cover ratio is currently 5.3 days. Currently, 7.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several research analysts have commented on INSG shares. Stifel Nicolaus decreased their target price on shares of Inseego from $17.00 to $12.00 and set a “hold” rating for the company in a report on Friday, December 20th. 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 note on Friday, November 15th. Roth Capital raised shares of Inseego from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Roth Mkm upgraded Inseego from a “neutral” rating to a “buy” rating and increased their target price for the company from $13.00 to $15.00 in a report on Thursday, November 14th.

Inseego Trading Down 1.6 %

Shares of NASDAQ:INSG opened at $12.91 on Tuesday. Inseego has a 1 year low of $2.08 and a 1 year high of $20.67. The firm has a fifty day moving average price of $11.49 and a 200 day moving average price of $13.79. The stock has a market capitalization of $193.13 million, a PE ratio of -7.17 and a beta of 1.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in INSG. JPMorgan Chase & Co. raised its position in shares of Inseego by 6,510.5% in the third quarter. JPMorgan Chase & Co. now owns 34,044 shares of the technology company’s stock valued at $556,000 after purchasing an additional 33,529 shares during the period. Aviva Holdings Ltd. acquired a new position in Inseego during the 3rd quarter worth $41,219,000. Geode Capital Management LLC boosted its holdings in Inseego by 7.6% during the third quarter. Geode Capital Management LLC now owns 104,304 shares of the technology company’s stock valued at $1,704,000 after acquiring an additional 7,325 shares during the period. Barclays PLC grew its position in shares of Inseego by 71.3% in 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 during the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in shares of Inseego by 28.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 34,955 shares of the technology company’s stock worth $359,000 after purchasing an additional 7,744 shares during the period. 34.20% of the stock is owned by institutional investors.

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.