Inseego Corp. (NASDAQ:INSG) Short Interest Update

Inseego Corp. (NASDAQ:INSG) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,380,000 shares, a growth of 11.3% from the October 31st total of 1,240,000 shares. Based on an average daily volume of 235,200 shares, the days-to-cover ratio is currently 5.9 days. Approximately 9.8% of the company’s shares are sold short.

Insider Buying and Selling

In other news, Chairman Philip G. Brace purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the purchase, the chairman now directly owns 177,763 shares of the company’s stock, valued at $2,204,261.20. The trade was a 5.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Inseego

A number of hedge funds have recently made changes to their positions in INSG. Quarry LP bought a new position in Inseego during the third quarter worth $26,000. Covestor Ltd bought a new position in shares of Inseego in the third quarter worth $32,000. Barclays PLC increased its holdings in shares of Inseego by 71.3% during 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 period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Inseego during the third quarter valued at about $73,000. Finally, Olympiad Research LP acquired a new stake in Inseego in the third quarter worth about $184,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

Inseego Stock Up 2.9 %

Shares of Inseego stock opened at $12.29 on Tuesday. Inseego has a twelve month low of $1.62 and a twelve month high of $20.67. The company has a fifty day moving average price of $16.43 and a 200 day moving average price of $13.02.

Analysts Set New Price Targets

Several research firms have commented on INSG. Roth Capital raised Inseego from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 14th. Roth Mkm raised Inseego from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $15.00 in a report on Thursday, November 14th. TD Cowen decreased their price target on Inseego from $20.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Finally, Stifel Nicolaus increased their price target on shares of Inseego from $11.00 to $17.00 and gave the company a “hold” rating in a report on Tuesday, September 17th.

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.