Inseego Corp (NASDAQ:INSG) rose 9.2% on Friday after Canaccord Genuity raised their price target on the stock from $1.75 to $2.25. Canaccord Genuity currently has a hold rating on the stock. Inseego traded as high as $2.29 and last traded at $2.25. Approximately 763,703 shares traded hands during trading, an increase of 229% from the average daily volume of 231,915 shares. The stock had previously closed at $2.06.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Inseego from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. ValuEngine raised shares of Inseego from a “strong sell” rating to a “sell” rating in a research note on Friday, December 1st.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Inseego by 2.4% during the second quarter. Vanguard Group Inc. now owns 1,050,470 shares of the technology company’s stock worth $1,313,000 after buying an additional 25,100 shares during the last quarter. Family Management Corp raised its stake in shares of Inseego by 267.9% during the fourth quarter. Family Management Corp now owns 154,500 shares of the technology company’s stock worth $249,000 after buying an additional 112,500 shares during the last quarter. Finally, Fusion Family Wealth LLC bought a new stake in shares of Inseego during the fourth quarter worth approximately $237,000. 7.89% of the stock is owned by institutional investors and hedge funds.
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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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