Inseego Corp (NASDAQ:INSG) has been assigned an average rating of “Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $6.90.

INSG has been the topic of several research reports. Canaccord Genuity lifted their price target on Inseego from $7.00 to $8.50 and gave the company a “buy” rating in a research report on Monday, October 28th. ValuEngine upgraded Inseego from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. BidaskClub lowered Inseego from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. Zacks Investment Research lowered Inseego from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. Finally, Northland Securities restated a “buy” rating and set a $6.00 price target on shares of Inseego in a research report on Thursday, November 7th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSG. BlackRock Inc. boosted its position in shares of Inseego by 229.2% during the second quarter. BlackRock Inc. now owns 2,918,234 shares of the technology company’s stock valued at $13,977,000 after purchasing an additional 2,031,809 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Inseego by 31.5% in the second quarter. Vanguard Group Inc. now owns 2,235,809 shares of the technology company’s stock worth $10,709,000 after acquiring an additional 535,156 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Inseego by 323.7% in the second quarter. Bank of New York Mellon Corp now owns 155,048 shares of the technology company’s stock worth $742,000 after acquiring an additional 118,450 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Inseego by 666.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 106,603 shares of the technology company’s stock worth $511,000 after acquiring an additional 92,703 shares in the last quarter. Finally, Family Management Corp boosted its holdings in Inseego by 42.1% in the second quarter. Family Management Corp now owns 299,527 shares of the technology company’s stock worth $1,435,000 after acquiring an additional 88,802 shares in the last quarter. Institutional investors own 48.76% of the company’s stock.

Shares of INSG traded up $0.11 during mid-day trading on Friday, hitting $5.02. 51,115 shares of the company’s stock traded hands, compared to its average volume of 1,438,424. Inseego has a 1 year low of $3.48 and a 1 year high of $6.00. The firm has a market capitalization of $378.55 million, a P/E ratio of -41.83 and a beta of 0.74. The business’s 50-day moving average price is $5.06 and its 200-day moving average price is $4.78.

Inseego (NASDAQ:INSG) last posted its earnings results on Wednesday, November 6th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.08. The business had revenue of $62.72 million for the quarter, compared to analysts’ expectations of $59.77 million. During the same period last year, the firm posted ($0.10) earnings per share. Inseego’s quarterly revenue was up 23.9% on a year-over-year basis. Equities research analysts forecast that Inseego will post -0.48 EPS for the current year.

About Inseego

Inseego Corp. engages in the design and development of mobile, Internet of Things (IoT), and cloud solutions for large enterprise verticals, service providers, and small and medium-sized businesses worldwide. The company provides wireless 3G, 4G, and 5G hardware products that address various markets, including fleet and commercial telematics, aftermarket telematics, smart city infrastructure management, remote monitoring and control, wireless surveillance systems, security and connected home and fixed wireless access, and mobile broadband devices.

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Analyst Recommendations for Inseego (NASDAQ:INSG)

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