Inseego Corp. [INSG] Executive Chairman makes an insider sale of 61,288 shares worth 240,249.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Inseego Corp. shares valued at $240,249 were sold by Mondor Dan on Mar 14. At $3.92 per share, Mondor Dan sold 61,288 shares. The insider’s holdings dropped to 243,040 shares worth approximately $0.61 million following the completion of this transaction.

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Also, Mondor Dan sold 50,000 shares, netting a total of over 230,500 in proceeds. Following the sale of shares at $4.61 each, the insider now holds 193,870 shares.

Before that, Sharma Ashish had added 5,000 shares to its account. In a trade valued at $34,550, the President bought Inseego Corp. shares for $6.91 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $0.11 million.

Analysts at Canaccord Genuity upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early March. As of March 02, 2021, Stifel has decreased its “Buy” rating to a “Hold” for INSG. Earlier on March 02, 2021, Lake Street downgraded its rating. Their new recommendation was “a Hold” for INSG stock which previously was a “a Buy”.

Analyzing INSG’s Price Performance

On Thursday, Inseego Corp. [NASDAQ: INSG] rose 0.40% to $2.52. The stock’s lowest price that day was $2.48, but it reached a high of $2.65 in the same session. During the last five days, there has been a surge of approximately 16.67%. Over the course of the year, Inseego Corp. shares have dropped approximately -56.78%. Shares of the company reached a 52-week high of $6.01 on 01/04/22 and a 52-week low of $1.74 on 06/14/22. A 50-day SMA is recorded $2.07, while a 200-day SMA reached $4.16. Nevertheless, trading volume fell to 1.03 million shares from 0.99 million shares the previous day.

Support And Resistance Levels for Inseego Corp. (INSG)

According to the 24-hour chart, there is a support level at 2.45, which, if violated, would cause prices to drop to 2.38. In the upper region, resistance lies at 2.62. The next price resistance is at 2.72. RSI (Relative Strength Index) is 63.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.24, which suggests the price will decrease in the coming days. Percent R is at 19.26%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Inseego Corp. subject to short interest?

Stocks of Inseego Corp. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.2 million shares to 10.61 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 10.81 million shares. A decline of -1.89% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 13.55 of the overall float, the days-to-cover ratio (short ratio) decline to 13.55.

Which companies own the most shares of Inseego Corp. (INSG)?

According to Tavistock Life Sciences Co. filings, the company currently owns 20,647,979 shares, which is about 19.23% of the total INSG shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 20647979.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $9,524,394. The Vanguard Group, Inc. acquire a 15.93% interest valued at $9.21 million while Maguire Asset Management LLC sold a 0 stake. A total of 0 shares of Inseego Corp. were sold by North Sound Management, Inc. during the quarter, and -4,135 were sold by SSgA Funds Management, Inc. In its current portfolio, Geode Capital Management LLC holds 1,522,422 shares valued at $2.88 million.

In terms of Inseego Corp. share price expectations, FactSet research, analysts set an average price target of $4.69 in the next 12 months, up nearly 104.38% from the previous closing price of $2.51. Analysts anticipate Inseego Corp. stock to reach $6.00 by 2022, with the lowest price target being $2.50. In spite of this, 5 analysts ranked Inseego Corp. stock as an Overweight at the end of 2022.


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