Inseego (NASDAQ:INSG) Receives Average Recommendation of “Hold” from Brokerages

Shares of Inseego (NASDAQ:INSG) have been given a consensus rating of “Hold” by the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $16.50.

INSG has been the subject of several recent research reports. TD Cowen reiterated a “hold” rating and issued a $15.00 price objective (up previously from $14.00) on shares of Inseego in a research report on Thursday, January 15th. Wall Street Zen raised shares of Inseego from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Stifel Nicolaus set a $14.00 price target on shares of Inseego and gave the company a “hold” rating in a report on Friday, October 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Inseego in a research report on Monday, December 29th. Finally, Lake Street Capital began coverage on shares of Inseego in a report on Monday, December 15th. They issued a “buy” rating and a $17.00 price target on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC grew its position in shares of Inseego by 32.7% in the 4th quarter. Larson Financial Group LLC now owns 36,996 shares of the technology company’s stock worth $380,000 after buying an additional 9,111 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Inseego by 209.4% during the fourth quarter. First Eagle Investment Management LLC now owns 435,849 shares of the technology company’s stock valued at $4,476,000 after acquiring an additional 294,999 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new stake in Inseego in the fourth quarter worth $191,000. Wexford Capital LP bought a new stake in Inseego in the third quarter valued at $290,000. Finally, Bank of America Corp DE boosted its holdings in Inseego by 393.2% in the third quarter. Bank of America Corp DE now owns 28,948 shares of the technology company’s stock valued at $433,000 after acquiring an additional 23,078 shares in the last quarter. Hedge funds and other institutional investors own 34.20% of the company’s stock.

Inseego Price Performance

Shares of NASDAQ INSG opened at $10.48 on Monday. The stock has a market capitalization of $160.66 million, a P/E ratio of -40.31 and a beta of 1.18. Inseego has a one year low of $6.24 and a one year high of $18.11. The firm’s 50 day simple moving average is $10.98 and its two-hundred day simple moving average is $11.81.

Inseego (NASDAQ:INSG) last announced its quarterly earnings data on Friday, November 7th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). Inseego had a negative net margin of 0.12% and a negative return on equity of 8.87%. The company had revenue of $45.89 million for the quarter, compared to the consensus estimate of $41.86 million. As a group, equities analysts expect that Inseego will post -0.06 earnings per share for the current fiscal year.

Inseego Company Profile

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.