Inseego (INSG) Stock Price Up 9.2% on Analyst Upgrade

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.

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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.

The company has a debt-to-equity ratio of -2.59, a current ratio of 1.10 and a quick ratio of 0.78. The stock has a market capitalization of $125.60, a P/E ratio of -2.88 and a beta of 0.38.

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About Inseego

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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