Inseego (INSG) Raised to Sell at ValuEngine

ValuEngine upgraded shares of Inseego (NASDAQ:INSG) from a strong sell rating to a sell rating in a research report report published on Friday morning.

Other research analysts also recently issued reports about the stock. Canaccord Genuity lifted their target price on shares of Inseego from $1.50 to $1.75 and gave the stock a hold rating in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Inseego from a strong sell rating to a hold rating in a research report on Monday, October 16th.

Shares of Inseego (INSG) opened at $2.01 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of -2.59. Inseego has a fifty-two week low of $0.87 and a fifty-two week high of $3.23.

Inseego (NASDAQ:INSG) last released its earnings results on Thursday, November 2nd. The technology company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.03). The company had revenue of $57.46 million for the quarter, compared to analyst estimates of $59.02 million. research analysts expect that Inseego will post -0.86 EPS for the current year.

In other news, Chairman Philip Falcone sold 91,023 shares of Inseego stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $1.33, for a total value of $121,060.59. Following the transaction, the chairman now directly owns 28,333 shares of the company’s stock, valued at $37,682.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.10% of the company’s stock.

A hedge fund recently raised its stake in Inseego stock. Vanguard Group Inc. lifted its position in Inseego Corp (NASDAQ:INSG) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,050,470 shares of the technology company’s stock after acquiring an additional 25,100 shares during the period. Vanguard Group Inc. owned about 1.88% of Inseego worth $1,313,000 as of its most recent SEC filing. Institutional investors own 12.14% of the company’s stock.

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About Inseego

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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