Inseego (NASDAQ:INSG) Upgraded at Roth Capital

Roth Capital upgraded shares of Inseego (NASDAQ:INSG) from a hold rating to a strong-buy rating in a research note released on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on INSG. Stifel Nicolaus raised their price objective 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. Roth Mkm raised shares of Inseego from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $15.00 in a report on Thursday. Finally, TD Cowen upped their price objective on shares of Inseego from $13.50 to $15.00 and gave the stock a “hold” rating in a research report on Wednesday, August 14th.

Inseego Stock Performance

NASDAQ INSG opened at $11.88 on Thursday. The firm has a 50-day simple moving average of $17.49 and a 200 day simple moving average of $12.37. Inseego has a twelve month low of $1.62 and a twelve month high of $20.67. The stock has a market cap of $177.61 million, a PE ratio of -6.60 and a beta of 1.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Inseego in the third quarter worth about $26,000. Barclays PLC raised its position in Inseego by 71.3% in the third quarter. Barclays PLC now owns 4,051 shares of the technology company’s stock worth $67,000 after acquiring an additional 1,686 shares during the period. Covestor Ltd bought a new stake in Inseego in the third quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Inseego in the third quarter valued at approximately $73,000. Finally, Geode Capital Management LLC raised its position 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 valued at $1,704,000 after purchasing an additional 7,325 shares during the period. 34.20% of the stock is currently owned by hedge funds and other 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.