Inseego (NASDAQ:INSG) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Inseego (NASDAQ:INSG) have been assigned a consensus recommendation of “Hold” from the five analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $16.50.

Several equities analysts recently commented on INSG shares. TD Cowen restated a “hold” rating and issued a $15.00 price target (up from $14.00) on shares of Inseego in a research note on Thursday, January 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Inseego in a report on Monday, December 29th. Lake Street Capital began coverage on shares of Inseego in a report on Monday, December 15th. They set a “buy” rating and a $17.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Inseego from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th.

Institutional Trading of Inseego

Several large investors have recently modified their holdings of INSG. Police & Firemen s Retirement System of New Jersey acquired a new position in Inseego in the second quarter valued at about $28,000. Kestra Advisory Services LLC bought a new position in Inseego in the 4th quarter valued at about $33,000. BNP Paribas Financial Markets raised 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 valued at $41,000 after buying an additional 1,527 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Inseego by 134.3% during 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 during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Inseego by 3,087.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock worth $50,000 after acquiring an additional 5,867 shares in the last quarter. 34.20% of the stock is owned by institutional investors and hedge funds.

Inseego Trading Down 1.5%

Inseego stock opened at $11.30 on Friday. The company has a market capitalization of $183.29 million, a price-to-earnings ratio of -59.47 and a beta of 1.18. Inseego has a 12 month low of $6.24 and a 12 month high of $18.11. The stock’s 50 day moving average is $11.04 and its 200-day moving average is $12.27.

Inseego (NASDAQ:INSG) last released its quarterly earnings results on Thursday, February 19th. The technology company reported $0.12 earnings per share (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 business had revenue of $48.40 million during the quarter, compared to the consensus estimate of $46.89 million. As a group, equities research analysts predict that Inseego will post -0.06 earnings per share for the current fiscal year.

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.