TD Cowen Issues Pessimistic Forecast for Inseego (NASDAQ:INSG) Stock Price

Inseego (NASDAQ:INSG) had its price target reduced by stock analysts at TD Cowen from $20.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. TD Cowen’s price objective would indicate a potential upside of 36.40% from the stock’s previous close.

INSG has been the topic of several other research reports. Roth Capital upgraded Inseego from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Stifel Nicolaus boosted their price objective on shares of Inseego from $11.00 to $17.00 and gave the stock a “hold” rating in a research report on Tuesday, September 17th. Finally, Roth Mkm raised shares of Inseego from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $15.00 in a research report on Thursday.

Inseego Price Performance

INSG stock traded down $0.58 during trading hours on Friday, reaching $11.73. 181,379 shares of the stock were exchanged, compared to its average volume of 183,562. The firm’s 50-day moving average is $17.54 and its 200-day moving average is $12.25. Inseego has a 12 month low of $1.62 and a 12 month high of $20.67. The company has a market cap of $144.04 million, a price-to-earnings ratio of -6.52 and a beta of 1.60.

Hedge Funds Weigh In On Inseego

A number of hedge funds and other institutional investors have recently bought and sold shares of INSG. Renaissance Technologies LLC acquired a new stake in shares of Inseego in the second quarter valued at approximately $274,000. Marshall Wace LLP bought a new stake in Inseego in the 2nd quarter valued at $833,000. Olympiad Research LP acquired a new stake in Inseego during the 3rd quarter valued at $184,000. Covestor Ltd bought a new position in Inseego during the third quarter worth $32,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Inseego in the third quarter valued at $353,000. 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.