Inseego Corp. (NASDAQ:INSG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “Inseego Corp. is a provider of software-as-a-service and solutions for the Internet of Things. The company sells telematics solutions under the Ctrack brand, including fleet management, asset tracking and monitoring, stolen vehicle recovery and usage-based insurance platforms. It also sells business connectivity solutions and device management services through Novatel Wireless, Inc. and Feeney Wireless. Inseego Corp., formerly known as Novatel Wireless Inc., is headquartered in San Diego, California. “

Other equities analysts also recently issued research reports about the stock. Northland Securities set a $2.00 price target on shares of Inseego Corp. and gave the company a “buy” rating in a report on Monday, June 26th. Canaccord Genuity reissued a “hold” rating and set a $1.25 price target on shares of Inseego Corp. in a report on Thursday, June 8th. Finally, ValuEngine raised shares of Inseego Corp. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Inseego Corp. has a consensus rating of “Hold” and a consensus price target of $2.00.

Shares of Inseego Corp. (INSG) traded up 3.67% during trading on Thursday, reaching $1.13. 531,090 shares of the company’s stock were exchanged. The stock’s market capitalization is $63.25 million. Inseego Corp. has a 52 week low of $0.87 and a 52 week high of $3.80. The company’s 50-day moving average is $1.26 and its 200 day moving average is $1.90.

Inseego Corp. (NASDAQ:INSG) last announced its quarterly earnings results on Monday, August 7th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). Inseego Corp. had a negative net margin of 32.34% and a negative return on equity of 204.22%. The company had revenue of $59.91 million during the quarter, compared to the consensus estimate of $55.11 million. On average, analysts forecast that Inseego Corp. will post ($0.34) earnings per share for the current year.

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Several institutional investors have recently made changes to their positions in INSG. Spark Investment Management LLC increased its position in shares of Inseego Corp. by 55.1% in the first quarter. Spark Investment Management LLC now owns 58,800 shares of the technology company’s stock valued at $122,000 after buying an additional 20,900 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Inseego Corp. by 2,239.6% in the first quarter. Goldman Sachs Group Inc. now owns 696,502 shares of the technology company’s stock worth $1,456,000 after buying an additional 666,732 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Inseego Corp. during the fourth quarter worth $1,485,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Inseego Corp. during the fourth quarter worth $1,748,000. 12.36% of the stock is owned by institutional investors.

About Inseego Corp.

Novatel Wireless, Inc is a provider of intelligent wireless solutions for the mobile communications market. The Company’s range of products includes intelligent mobile hotspots, universal serial bus (USB) modems, embedded modules, integrated asset-management and mobile tracking machine-to-machine (M2M) devices, communications and applications software and cloud services.

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