Stifel Nicolaus Increases Inseego (NASDAQ:INSG) Price Target to $17.00

Inseego (NASDAQ:INSG) had its price target boosted by equities researchers at Stifel Nicolaus from $11.00 to $17.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price target suggests a potential downside of 2.80% from the company’s previous close.

Separately, TD Cowen upped their price target on Inseego from $13.50 to $15.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th.

Inseego Price Performance

Shares of INSG stock opened at $17.49 on Tuesday. The firm has a fifty day moving average price of $12.11 and a 200-day moving average price of $7.89. The company has a market cap of $207.83 million, a price-to-earnings ratio of -4.25 and a beta of 1.61. Inseego has a 1 year low of $1.62 and a 1 year high of $18.36.

Inseego (NASDAQ:INSG) last issued its earnings results on Wednesday, August 7th. The technology company reported ($0.02) earnings per share for the quarter. The company had revenue of $59.15 million for the quarter, compared to the consensus estimate of $53.63 million. Equities research analysts expect that Inseego will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in shares of Inseego in the second quarter worth about $274,000. Marshall Wace LLP purchased a new stake in shares of Inseego during the 2nd quarter worth approximately $833,000. Finally, Braslyn Ltd. bought a new position in shares of Inseego during the 4th quarter valued at approximately $1,675,000. Institutional investors own 34.20% of the company’s stock.

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.