Inseego Corp. (INSG) Price Target Increased to $1.75 by Analysts at Canaccord Genuity
Inseego Corp. (NASDAQ:INSG) had its price objective hoisted by Canaccord Genuity from $1.50 to $1.75 in a research note issued to investors on Friday. The brokerage presently has a “hold” rating on the technology company’s stock. Canaccord Genuity’s target price indicates a potential upside of 19.86% from the stock’s previous close.
A number of other brokerages also recently commented on INSG. Northland Securities reissued a “buy” rating and issued a $2.00 target price on shares of Inseego Corp. in a research note on Sunday, October 1st. Zacks Investment Research raised shares of Inseego Corp. from a “strong sell” rating to a “hold” rating in a report on Monday, October 16th.
Inseego Corp. (INSG) traded down $0.11 during trading hours on Friday, reaching $1.42. 247,104 shares of the company’s stock were exchanged, compared to its average volume of 277,372.
Inseego Corp. (NASDAQ:INSG) last issued its earnings results on Monday, August 7th. The technology company reported ($0.21) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.21). The business had revenue of $59.91 million during the quarter, compared to analysts’ expectations of $55.11 million. analysts predict that Inseego Corp. will post -0.82 earnings per share for the current fiscal year.
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A hedge fund recently raised its stake in Inseego Corp. stock. Goldman Sachs Group Inc. grew its stake in shares of Inseego Corp. (NASDAQ:INSG) by 2,239.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 696,502 shares of the technology company’s stock after acquiring an additional 666,732 shares during the period. Goldman Sachs Group Inc. owned about 1.21% of Inseego Corp. worth $1,456,000 at the end of the most recent quarter. 9.89% of the stock is currently owned by institutional investors and hedge funds.
About Inseego Corp.
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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