BNP Paribas Financial Markets Grows Position in Inseego Corp. (NASDAQ:INSG)

BNP Paribas Financial Markets increased its position in shares of Inseego Corp. (NASDAQ:INSG) by 258.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,924 shares of the technology company’s stock after purchasing an additional 3,549 shares during the period. BNP Paribas Financial Markets’ holdings in Inseego were worth $51,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in shares of Inseego during the 4th quarter worth about $60,000. Wells Fargo & Company MN boosted its stake in shares of Inseego by 655.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,080 shares of the technology company’s stock worth $83,000 after purchasing an additional 7,010 shares during the period. Tower Research Capital LLC TRC bought a new stake in Inseego during the 4th quarter valued at about $112,000. Algert Global LLC bought a new stake in Inseego during the 4th quarter valued at about $127,000. Finally, Townsquare Capital LLC bought a new stake in Inseego during the 4th quarter valued at about $131,000. 34.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on INSG shares. Stifel Nicolaus decreased their price objective on shares of Inseego from $11.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Wall Street Zen lowered shares of Inseego from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Inseego Stock Up 1.1%

Shares of Inseego stock opened at $7.45 on Wednesday. The firm’s 50 day moving average price is $7.85 and its 200-day moving average price is $10.02. Inseego Corp. has a 52-week low of $6.24 and a 52-week high of $20.67. The company has a market cap of $111.81 million, a P/E ratio of -12.02 and a beta of 1.15.

Inseego 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.