Stifel analyst Tore Svanberg lowered the firm’s price target on Inseego (INSG) to $12 from $17 and keeps a Hold rating on the shares after the company made three filings with the SEC yesterday morning, including filing an S-1 in connection with recent debt restructuring. The S-1 was filed to fulfill the company’s obligation to register the shares associated with its debt restructuring, with no material impact on the firm’s estimates for share count, notes the analyst, who maintains a Hold rating pending continued evidence of sustainability of the company’s turnaround and resolution of its CEO search.
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Read More on INSG:
- Inseego Files SEC Registrations to Optimize Capital
- Inseego files to sell 5.96M shares of common stock for holders
- Inseego Sells Telematics Business for Strategic Focus
- Inseego completes sale of telematics business for $52M in cash
- Inseego price target lowered to $16 from $20 at TD Cowen
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
