Inseego Corp.’s (INSG) Buy Rating Reiterated at Northland Securities
Northland Securities reaffirmed their buy rating on shares of Inseego Corp. (NASDAQ:INSG) in a research note issued to investors on Sunday. The brokerage currently has a $2.00 price target on the technology company’s stock.
A number of other research firms also recently issued reports on INSG. Zacks Investment Research downgraded shares of Inseego Corp. from a buy rating to a hold rating in a research report on Thursday, August 10th. Canaccord Genuity increased their price target on Inseego Corp. from $1.25 to $1.50 and gave the stock a hold rating in a research report on Tuesday, August 8th. Finally, ValuEngine upgraded Inseego Corp. from a strong sell rating to a sell rating in a research report on Tuesday, June 27th.
Inseego Corp. (NASDAQ INSG) opened at 1.49 on Friday. Inseego Corp. has a 12-month low of $0.87 and a 12-month high of $3.23. The firm’s market cap is $83.73 million. The firm’s 50-day moving average is $1.22 and its 200 day moving average is $1.62.
Inseego Corp. (NASDAQ:INSG) last issued its quarterly earnings results on Monday, August 7th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.21). The company had revenue of $59.91 million for the quarter, compared to analyst estimates of $55.11 million. Equities analysts forecast that Inseego Corp. will post ($0.35) earnings per share for the current year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of Inseego Corp. by 0.6% in the second quarter. Goldman Sachs Group Inc. now owns 700,539 shares of the technology company’s stock valued at $876,000 after purchasing an additional 4,037 shares during the period. Vanguard Group Inc. increased its stake in Inseego Corp. by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,050,470 shares of the technology company’s stock worth $1,313,000 after buying an additional 25,100 shares during the period. Finally, Spark Investment Management LLC increased its stake in Inseego Corp. by 55.1% during the 1st quarter. Spark Investment Management LLC now owns 58,800 shares of the technology company’s stock worth $122,000 after buying an additional 20,900 shares during the period. Institutional investors and hedge funds own 9.89% of the company’s stock.
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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