Inseego Corp (INSG) Receives Average Recommendation of “Buy” from Brokerages
Inseego Corp (NASDAQ:INSG) has been assigned an average recommendation of “Buy” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $4.88.
Several equities analysts recently commented on INSG shares. Canaccord Genuity upgraded shares of Inseego from a “hold” rating to a “buy” rating and upped their price target for the company from $2.25 to $4.50 in a research note on Thursday, September 6th. Northland Securities upped their price target on shares of Inseego from $3.00 to $4.50 and gave the company an “outperform” rating in a research note on Tuesday, September 11th. BidaskClub upgraded shares of Inseego from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 14th. Roth Capital started coverage on shares of Inseego in a research note on Friday, October 12th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, Lake Street Capital set a $5.00 price target on shares of Inseego and gave the company a “buy” rating in a research note on Wednesday, November 7th.
Shares of INSG stock traded down $0.17 on Friday, hitting $3.73. The company’s stock had a trading volume of 506,633 shares, compared to its average volume of 406,436. Inseego has a fifty-two week low of $1.50 and a fifty-two week high of $4.49. The company has a market capitalization of $286.23 million, a PE ratio of -4.78 and a beta of 0.52.
In other Inseego news, Director Jeffrey Tuder sold 12,685 shares of the stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $3.70, for a total transaction of $46,934.50. Following the sale, the director now directly owns 126,413 shares in the company, valued at $467,728.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 154,191 shares of company stock worth $569,966 over the last quarter. Corporate insiders own 1.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in INSG. PEAK6 Investments LLC acquired a new stake in Inseego during the third quarter worth about $106,000. Jane Street Group LLC acquired a new stake in Inseego during the third quarter worth about $134,000. Virtu Financial LLC acquired a new stake in Inseego during the third quarter worth about $156,000. FNY Investment Advisers LLC acquired a new stake in Inseego during the third quarter worth about $380,000. Finally, ClariVest Asset Management LLC acquired a new stake in Inseego during the third quarter worth about $480,000. Hedge funds and other institutional investors own 25.26% of the company’s stock.
Inseego Company Profile
Inseego Corp., together with its subsidiaries, provides software-as-a-service (SaaS), Internet of Things (IoT), and mobile solutions worldwide. The company sells SaaS, software, and service solutions across multiple IoT vertical markets, including fleet management and vehicle telematics, aviation, usage-based insurance, stolen vehicle recovery, asset tracking and monitoring, business connectivity, and subscription management.
Read More: How Do You Calculate Return on Equity (ROE)?
Receive News & Ratings for Inseego Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inseego and related companies with MarketBeat.com's FREE daily email newsletter.