Covestor Ltd Invests $32,000 in Inseego Corp. (NASDAQ:INSG)

Covestor Ltd purchased a new position in shares of Inseego Corp. (NASDAQ:INSG) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 1,942 shares of the technology company’s stock, valued at approximately $32,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Olympiad Research LP acquired a new position in shares of Inseego during the 3rd quarter worth $184,000. Renaissance Technologies LLC acquired a new position in Inseego in the 2nd quarter valued at about $274,000. Finally, Marshall Wace LLP acquired a new position in Inseego in the 2nd quarter valued at about $833,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

Inseego Price Performance

INSG opened at $11.88 on Friday. The stock has a market capitalization of $145.89 million, a price-to-earnings ratio of -6.60 and a beta of 1.60. The business has a 50-day moving average of $17.54 and a two-hundred day moving average of $12.25. Inseego Corp. has a 12 month low of $1.62 and a 12 month high of $20.67.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on INSG shares. TD Cowen cut their target price on shares of Inseego from $20.00 to $16.00 and set a “hold” rating for the company in a research note on Friday. Roth Mkm upgraded Inseego from a “neutral” rating to a “buy” rating and lifted their price target for the company from $13.00 to $15.00 in a report on Thursday. Roth Capital upgraded Inseego from a “hold” rating to a “strong-buy” rating in a report on Thursday. Finally, Stifel Nicolaus lifted their price target on Inseego from $11.00 to $17.00 and gave the company a “hold” rating in a report on Tuesday, September 17th.

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.