Inseego Corp. (INSG) Upgraded by Zacks Investment Research to “Buy”
Inseego Corp. (NASDAQ:INSG) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Wednesday, July 12th. The firm presently has a $1.50 price target on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 35.14% from the stock’s previous close.
According to Zacks, “Inseego Corp. is a provider of software-as-a-service and solutions for the Internet of Things. The company sells telematics solutions under the Ctrack brand, including fleet management, asset tracking and monitoring, stolen vehicle recovery and usage-based insurance platforms. It also sells business connectivity solutions and device management services through Novatel Wireless, Inc. and Feeney Wireless. Inseego Corp., formerly known as Novatel Wireless Inc., is headquartered in San Diego, California. “
Several other research firms have also recently commented on INSG. ValuEngine upgraded Inseego Corp. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Northland Securities set a $2.00 price objective on Inseego Corp. and gave the stock a “buy” rating in a report on Monday, June 26th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $1.25 price objective on shares of Inseego Corp. in a report on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Inseego Corp. has a consensus rating of “Hold” and an average target price of $1.94.
Inseego Corp. (NASDAQ INSG) opened at 1.11 on Wednesday. The stock’s market capitalization is $62.13 million. Inseego Corp. has a 52-week low of $0.87 and a 52-week high of $3.80. The firm’s 50-day moving average is $1.25 and its 200-day moving average is $1.97.
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Several institutional investors have recently added to or reduced their stakes in INSG. Renaissance Technologies LLC purchased a new position in Inseego Corp. during the fourth quarter worth approximately $1,748,000. Goldman Sachs Group Inc. increased its stake in shares of Inseego Corp. by 2,239.6% in the first quarter. Goldman Sachs Group Inc. now owns 696,502 shares of the technology company’s stock valued at $1,456,000 after buying an additional 666,732 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Inseego Corp. during the fourth quarter valued at approximately $1,485,000. A.R.T. Advisors LLC bought a new stake in shares of Inseego Corp. during the fourth quarter valued at approximately $190,000. Finally, Two Sigma Investments LP bought a new stake in shares of Inseego Corp. during the fourth quarter valued at approximately $167,000. Institutional investors own 12.36% of the company’s stock.
About Inseego Corp.
Novatel Wireless, Inc is a provider of intelligent wireless solutions for the mobile communications market. The Company’s range of products includes intelligent mobile hotspots, universal serial bus (USB) modems, embedded modules, integrated asset-management and mobile tracking machine-to-machine (M2M) devices, communications and applications software and cloud services.
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