Inseego Corp. (NASDAQ:INSG) Sees Significant Decrease in Short Interest

Inseego Corp. (NASDAQ:INSG) was the recipient of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 990,600 shares, a drop of 9.9% from the January 15th total of 1,100,000 shares. Based on an average daily trading volume, of 186,600 shares, the short-interest ratio is currently 5.3 days. Currently, 7.0% of the company’s stock are sold short.

Inseego Stock Down 1.6 %

Shares of INSG stock traded down $0.21 during trading on Monday, reaching $12.91. The company’s stock had a trading volume of 65,662 shares, compared to its average volume of 99,195. Inseego has a one year low of $2.08 and a one year high of $20.67. The business has a fifty day moving average price of $11.44 and a 200-day moving average price of $13.77. The company has a market cap of $193.13 million, a price-to-earnings ratio of -7.17 and a beta of 1.50.

Wall Street Analyst Weigh In

INSG has been the topic of a number of research reports. Roth Capital raised shares of Inseego from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus reduced their target price on shares of Inseego from $17.00 to $12.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Roth Mkm raised Inseego from a “neutral” rating to a “buy” rating and lifted their price target for the company from $13.00 to $15.00 in a research note on Thursday, November 14th. Finally, TD Cowen cut their price target on Inseego from $20.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, November 15th.

Institutional Investors Weigh In On Inseego

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Inseego in the third quarter valued at approximately $26,000. Barclays PLC boosted its holdings in shares of Inseego by 71.3% in the 3rd quarter. Barclays PLC now owns 4,051 shares of the technology company’s stock valued at $67,000 after buying an additional 1,686 shares during the last quarter. Northern Trust Corp grew its stake in shares of Inseego by 9.2% in the fourth quarter. Northern Trust Corp now owns 21,962 shares of the technology company’s stock valued at $225,000 after buying an additional 1,854 shares in the last quarter. Covestor Ltd bought a new position in shares of Inseego in the third quarter valued at $32,000. Finally, BNP Paribas Financial Markets increased its holdings in Inseego by 258.1% during the fourth quarter. BNP Paribas Financial Markets now owns 4,924 shares of the technology company’s stock worth $51,000 after buying an additional 3,549 shares during the last quarter. 34.20% of the stock is owned by 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.