Inseego (NASDAQ:INSG) Upgraded by Craig Hallum to Strong-Buy Rating

Key Points

• Inseego has been upgraded to a "strong-buy" rating by Craig Hallum, while Weiss Ratings maintained a "sell (d+)" rating for the company.
• The stock currently has an average rating of "Moderate Buy" with a consensus price target of $14.75.
• Director Sound Trading Lp North recently purchased 31,094 shares of Inseego, increasing their position by 1.48% and demonstrating insider confidence in the company's prospects.

Inseego (NASDAQ:INSG - Get Free Report) was upgraded by research analysts at Craig Hallum to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings restated a "sell (d+)" rating on shares of Inseego in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $14.75.

Inseego Price Performance

NASDAQ INSG opened at $15.45 on Monday. The business has a 50 day simple moving average of $11.66 and a two-hundred day simple moving average of $9.19. Inseego has a 1-year low of $6.24 and a 1-year high of $20.67. The stock has a market capitalization of $232.37 million, a PE ratio of -44.14, a P/E/G ratio of 2.08 and a beta of 1.26.

Insider Buying and Selling

In other Inseego news, Director Sound Trading Lp North purchased 31,094 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were bought at an average price of $8.98 per share, with a total value of $279,224.12. Following the completion of the acquisition, the director owned 2,128,669 shares in the company, valued at approximately $19,115,447.62. This represents a 1.48% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought 55,001 shares of company stock valued at $479,591 in the last three months. 20.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Inseego

Institutional investors and hedge funds have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey bought a new stake in Inseego during the second quarter valued at about $28,000. Bank of America Corp DE raised its holdings in Inseego by 134.3% in the second quarter. Bank of America Corp DE now owns 5,870 shares of the technology company's stock worth $48,000 after purchasing an additional 3,365 shares during the period. JPMorgan Chase & Co. increased its stake in Inseego by 3,087.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company's stock valued at $50,000 after buying an additional 5,867 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Inseego in the 2nd quarter valued at about $56,000. Finally, Maven Securities LTD bought a new stake in shares of Inseego during the 2nd quarter worth about $82,000. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

Inseego Company 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.

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