Inseego (INSG) – What Are Investment Firms Thinking About This Stock?

Shares of Inseego (NASDAQ:INSG) have earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $13.00.

A number of brokerages have commented on INSG. Zacks Research upgraded Inseego from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. Weiss Ratings cut Inseego from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 21st. Roth Capital restated a “buy” rating on shares of Inseego in a research report on Friday, August 7th. Wall Street Zen downgraded Inseego from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 3rd. Finally, Lake Street Capital set a $12.00 price objective on Inseego in a research note on Thursday, August 6th.

Inseego Stock Performance

NASDAQ:INSG traded down $0.03 during mid-day trading on Friday, hitting $4.12. 104,309 shares of the company’s stock traded hands, compared to its average volume of 374,937. The firm’s 50 day simple moving average is $4.32 and its 200 day simple moving average is $8.93. Inseego has a 1 year low of $3.58 and a 1 year high of $21.90. The company has a market cap of $67.65 million, a PE ratio of 31.69 and a beta of 1.61.

Inseego (NASDAQ:INSG) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The business had revenue of $43.98 million for the quarter, compared to the consensus estimate of $39.90 million. On average, research analysts expect that Inseego will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INSG. Engineers Gate Manager LP purchased a new stake in shares of Inseego during the second quarter worth about $115,000. AXQ Capital LP acquired a new stake in Inseego during the second quarter worth approximately $128,000. Bank of New York Mellon Corp acquired a new stake in Inseego during the second quarter worth approximately $290,000. WINTON GROUP Ltd grew its stake in Inseego by 138.3% in the 2nd quarter. WINTON GROUP Ltd now owns 36,387 shares of the technology company’s stock worth $376,000 after acquiring an additional 21,119 shares during the period. Finally, Militia Capital Management LLC purchased a new stake in Inseego in the 1st quarter worth approximately $518,000. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

Inseego Company Profile

Inseego Corp. (NASDAQ: INSG) develops wireless broadband and connectivity solutions for carriers, enterprises, small and medium-sized businesses, public-sector organizations, and consumers. Its products are designed to provide high-speed internet access over cellular networks, including 5G and 4G LTE.

The company’s portfolio includes fixed wireless access devices, mobile broadband hotspots, wireless routers, customer-premises equipment, and related networking hardware. Inseego also provides cloud-based management and monitoring software intended to help customers deploy, control, and support connected devices and wireless networks.

Inseego serves customers through relationships with mobile network operators, channel partners, and technology providers in North America and international markets.