TD Cowen Has Lowered Expectations for Inseego (NASDAQ:INSG) Stock Price

Inseego (NASDAQ:INSG) had its price objective decreased by TD Cowen from $20.00 to $16.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. TD Cowen’s target price suggests a potential upside of 34.68% from the stock’s previous close.

A number of other brokerages have also commented on INSG. Roth Capital upgraded shares of Inseego from a “hold” rating to a “strong-buy” rating in a report on Thursday. Roth Mkm upgraded Inseego from a “neutral” rating to a “buy” rating and boosted their price target for the company from $13.00 to $15.00 in a report on Thursday. Finally, Stifel Nicolaus increased their price objective on Inseego from $11.00 to $17.00 and gave the stock a “hold” rating in a report on Tuesday, September 17th.

Inseego Stock Performance

Shares of INSG opened at $11.88 on Friday. The stock has a 50 day simple moving average of $17.49 and a 200 day simple moving average of $12.31. Inseego has a 52-week low of $1.62 and a 52-week high of $20.67. The firm has a market capitalization of $177.67 million, a PE ratio of -6.60 and a beta of 1.60.

Hedge Funds Weigh In On Inseego

A number of large investors have recently modified their holdings of the business. Renaissance Technologies LLC bought a new stake in Inseego during the second quarter worth about $274,000. Marshall Wace LLP acquired a new position in shares of Inseego during the 2nd quarter worth approximately $833,000. Olympiad Research LP bought a new stake in shares of Inseego during the 3rd quarter worth approximately $184,000. Covestor Ltd acquired a new stake in shares of Inseego in the 3rd quarter valued at approximately $32,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Inseego in the third quarter valued at $353,000. 34.20% of the stock is currently owned by institutional investors and hedge funds.

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.