Inseego (NASDAQ:INSG) Price Target Cut to $8.00 by Analysts at Stifel Nicolaus

Inseego (NASDAQ:INSG) had its target price dropped by Stifel Nicolaus from $11.00 to $8.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 9.81% from the stock’s current price.

Inseego Trading Down 0.1 %

NASDAQ INSG opened at $7.29 on Thursday. The firm’s fifty day simple moving average is $9.61 and its 200-day simple moving average is $12.30. Inseego has a 1-year low of $2.29 and a 1-year high of $20.67. The company has a market capitalization of $109.32 million, a PE ratio of -11.75 and a beta of 1.79.

Inseego (NASDAQ:INSG) last posted its quarterly earnings data on Wednesday, February 19th. The technology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The business had revenue of $48.09 million during the quarter, compared to the consensus estimate of $45.56 million. Inseego had a negative return on equity of 4.08% and a net margin of 2.22%. As a group, analysts predict that Inseego will post -0.06 EPS for the current year.

Institutional Investors Weigh In On Inseego

A number of institutional investors have recently bought and sold shares of INSG. Marshall Wace LLP raised its stake in shares of Inseego by 19.9% in the fourth quarter. Marshall Wace LLP now owns 371,992 shares of the technology company’s stock worth $3,817,000 after acquiring an additional 61,623 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Inseego by 3.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 158,673 shares of the technology company’s stock valued at $1,628,000 after purchasing an additional 5,992 shares during the period. Geode Capital Management LLC grew its stake in shares of Inseego by 19.0% during the fourth quarter. Geode Capital Management LLC now owns 124,121 shares of the technology company’s stock worth $1,274,000 after purchasing an additional 19,817 shares during the period. Renaissance Technologies LLC raised its position in shares of Inseego by 199.0% during the fourth quarter. Renaissance Technologies LLC now owns 117,941 shares of the technology company’s stock worth $1,210,000 after purchasing an additional 78,495 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Inseego during the 4th quarter worth approximately $1,114,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

Inseego Company Profile

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.