Inseego (INSG) Downgraded by ValuEngine to Strong Sell
ValuEngine cut shares of Inseego (NASDAQ:INSG) from a sell rating to a strong sell rating in a report published on Wednesday.
A number of other equities analysts have also recently commented on the company. Zacks Investment Research raised Inseego from a strong sell rating to a hold rating in a report on Monday, October 16th. Northland Securities reissued a buy rating and set a $2.00 price target on shares of Inseego in a report on Sunday, October 1st. Finally, Canaccord Genuity boosted their price target on Inseego from $1.50 to $1.75 and gave the stock a hold rating in a report on Friday, November 3rd.
Inseego (INSG) remained flat at $$1.60 on Wednesday. 143,100 shares of the company’s stock were exchanged, compared to its average volume of 136,967. The firm has a market capitalization of $93.25, a P/E ratio of -1.31 and a beta of 0.28. Inseego has a 52-week low of $0.87 and a 52-week 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 stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $1.33, for a total value of $121,060.59. Following the transaction, the chairman now owns 28,333 shares in the company, valued at $37,682.89. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.
A hedge fund recently raised its stake in Inseego stock. Goldman Sachs Group Inc. increased its position in Inseego Corp (NASDAQ:INSG) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 700,539 shares of the technology company’s stock after acquiring an additional 4,037 shares during the period. Goldman Sachs Group Inc. owned about 1.25% of Inseego worth $876,000 at the end of the most recent reporting period. 12.14% of the stock is currently owned by hedge funds and other institutional investors.
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