Covestor Ltd Takes Position in Inseego Corp. (NASDAQ:INSG)

Covestor Ltd purchased a new stake in shares of Inseego Corp. (NASDAQ:INSG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,942 shares of the technology company’s stock, valued at approximately $32,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Olympiad Research LP purchased a new stake in Inseego in the 3rd quarter valued at about $184,000. Renaissance Technologies LLC purchased a new stake in Inseego in the 2nd quarter valued at about $274,000. Finally, Marshall Wace LLP purchased a new stake in Inseego in the 2nd quarter valued at about $833,000. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

Inseego Trading Down 3.5 %

INSG stock opened at $11.88 on Friday. The company has a market capitalization of $145.89 million, a P/E ratio of -6.60 and a beta of 1.60. Inseego Corp. has a twelve month low of $1.62 and a twelve month high of $20.67. The business has a 50 day simple moving average of $17.54 and a 200-day simple moving average of $12.25.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Roth Mkm upgraded 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. TD Cowen reduced their price objective on shares of Inseego from $20.00 to $16.00 and set a “hold” rating on the stock in a report on Friday. Stifel Nicolaus boosted their price objective on shares of Inseego from $11.00 to $17.00 and gave the company a “hold” rating in a report on Tuesday, September 17th. Finally, Roth Capital upgraded shares of Inseego from a “hold” rating to a “strong-buy” rating in a report on Thursday.

Inseego 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.