ValuEngine Downgrades Inseego (INSG) to Strong Sell
Inseego (NASDAQ:INSG) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday.
Several other research firms have also recently issued reports on INSG. Northland Securities reissued a “buy” rating and set a $2.00 price target on shares of Inseego in a report on Sunday, October 1st. Canaccord Genuity increased their price target on shares of Inseego from $1.50 to $1.75 and gave the stock a “hold” rating in a report on Friday, November 3rd. Finally, Zacks Investment Research raised shares of Inseego from a “strong sell” rating to a “hold” rating in a report on Monday, October 16th.
Inseego (NASDAQ INSG) opened at $1.65 on Wednesday. The stock has a market cap of $96.17, a PE ratio of -1.35 and a beta of 0.27. Inseego has a 1-year low of $0.87 and a 1-year high of $3.23. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of -2.59.
In other Inseego news, Chairman Philip Falcone sold 91,023 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $1.33, for a total transaction of $121,060.59. Following the transaction, the chairman now directly owns 28,333 shares in the company, valued at $37,682.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.10% of the company’s stock.
An institutional investor recently raised its position in Inseego stock. Goldman Sachs Group Inc. boosted its stake in shares of Inseego Corp (NASDAQ:INSG) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 700,539 shares of the technology company’s stock after buying an additional 4,037 shares during the quarter. Goldman Sachs Group Inc. owned 1.25% of Inseego worth $876,000 as of its most recent filing with the Securities and Exchange Commission. 12.14% of the stock is currently owned by institutional investors.
Inseego Company Profile
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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