Inseego (INSG) Upgraded at Canaccord Genuity
Canaccord Genuity upgraded shares of Inseego (NASDAQ:INSG) from a hold rating to a buy rating in a report released on Thursday morning, Marketbeat Ratings reports. They currently have $4.50 price objective on the technology company’s stock, up from their previous price objective of $2.25.
Separately, ValuEngine lowered shares of Inseego from a hold rating to a sell rating in a research report on Wednesday, May 9th.
INSG stock traded up $0.17 during mid-day trading on Thursday, hitting $3.85. The company had a trading volume of 37,843 shares, compared to its average volume of 843,413. The firm has a market cap of $237.51 million, a price-to-earnings ratio of -4.72 and a beta of 0.28. The company has a debt-to-equity ratio of -2.07, a quick ratio of 0.72 and a current ratio of 0.91. Inseego has a 12 month low of $1.19 and a 12 month high of $4.02.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Family Management Corp raised its position in shares of Inseego by 525.0% in the second quarter. Family Management Corp now owns 262,502 shares of the technology company’s stock valued at $527,000 after purchasing an additional 220,502 shares during the period. Renaissance Technologies LLC raised its position in shares of Inseego by 21.6% in the second quarter. Renaissance Technologies LLC now owns 451,900 shares of the technology company’s stock valued at $908,000 after purchasing an additional 80,400 shares during the period. Finally, BlackRock Inc. raised its position in shares of Inseego by 3.1% in the second quarter. BlackRock Inc. now owns 1,047,118 shares of the technology company’s stock valued at $2,105,000 after purchasing an additional 31,469 shares during the period. 6.41% of the stock is currently owned by institutional investors.
Inseego Company Profile
Inseego Corp., together with its subsidiaries, provides software-as-a-service (SaaS), Internet of Things (IoT), and mobile solutions worldwide. The company sells SaaS, software, and service solutions across multiple IoT vertical markets, including fleet management and vehicle telematics, aviation, usage-based insurance, stolen vehicle recovery, asset tracking and monitoring, business connectivity, and subscription management.
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