Inseego (NASDAQ:INSG) Given Average Recommendation of “Hold” by Analysts

Shares of Inseego (NASDAQ:INSG) have been given a consensus rating of “Hold” by the five brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $16.50.

INSG has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inseego in a report on Monday, December 29th. TD Cowen reissued a “hold” rating and set a $15.00 price objective (up from $14.00) on shares of Inseego in a report on Thursday, January 15th. Finally, Lake Street Capital initiated coverage on shares of Inseego in a research report on Monday, December 15th. They issued a “buy” rating and a $17.00 target price for the company.

Inseego Stock Down 5.9%

INSG stock opened at $10.75 on Tuesday. The stock’s 50 day moving average is $11.35 and its two-hundred day moving average is $12.24. Inseego has a 52-week low of $6.24 and a 52-week high of $18.11. The company has a market capitalization of $174.37 million, a PE ratio of -56.58 and a beta of 1.18.

Inseego (NASDAQ:INSG) last released its earnings results on Thursday, February 19th. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.07 by $0.05. Inseego had a negative return on equity of 13.38% and a net margin of 0.50%.The company had revenue of $48.40 million during the quarter, compared to analysts’ expectations of $46.89 million. As a group, sell-side analysts anticipate that Inseego will post -0.06 EPS for the current year.

Institutional Trading of Inseego

Hedge funds and other institutional investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey bought a new stake in Inseego in the second quarter valued at about $28,000. Kestra Advisory Services LLC bought a new position in Inseego during the 4th quarter worth approximately $33,000. BNP Paribas Financial Markets grew its position in shares of Inseego by 129.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,708 shares of the technology company’s stock worth $41,000 after acquiring an additional 1,527 shares in the last quarter. Bank of America Corp DE grew its position in shares of Inseego by 134.3% in the 2nd quarter. Bank of America Corp DE now owns 5,870 shares of the technology company’s stock worth $48,000 after acquiring an additional 3,365 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Inseego by 3,087.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock valued at $50,000 after acquiring an additional 5,867 shares during the last quarter. 34.20% of the stock is owned by institutional investors.

About Inseego

Inseego Corp is a U.S.-based technology company specializing in 5G and intelligent Internet of Things (IoT) device-to-cloud solutions. The company develops hardware and software platforms designed to connect devices, vehicles and remote locations to high-speed wireless networks. Its core offerings include mobile hotspots, fixed wireless access gateways and ruggedized routers optimized for enterprise, industrial and government applications.

Inseego’s product portfolio encompasses 5G MiFi® mobile hotspots, virtual network functions (VNFs) for network management, telematics devices for fleet tracking and asset monitoring, as well as a suite of cloud-native software for device lifecycle management and data analytics.