Inseego (NASDAQ:INSG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Inseego (NASDAQ:INSG) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $16.25.

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Inseego in a research note on Wednesday, October 8th. Craig Hallum set a $20.00 price target on shares of Inseego and gave the stock a “buy” rating in a research note on Monday, October 6th. Finally, Stifel Nicolaus set a $14.00 price target on shares of Inseego and gave the stock a “hold” rating in a research note on Friday, October 17th.

Insider Buying and Selling

In other news, Director Sound Trading Lp North bought 15,100 shares of the stock in a transaction on Thursday, August 14th. The stock was purchased at an average price of $8.93 per share, with a total value of $134,843.00. Following the completion of the purchase, the director owned 2,143,769 shares of the company’s stock, valued at approximately $19,143,857.17. This trade represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 55,001 shares of company stock valued at $479,591 over the last ninety days. 20.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inseego

Large investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey bought a new stake in Inseego in the second quarter valued at approximately $28,000. Bank of America Corp DE increased its stake in Inseego by 134.3% in the second quarter. Bank of America Corp DE now owns 5,870 shares of the technology company’s stock valued at $48,000 after purchasing an additional 3,365 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Inseego by 3,087.9% in the second quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock valued at $50,000 after purchasing an additional 5,867 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Inseego in the second quarter valued at approximately $56,000. Finally, Maven Securities LTD bought a new stake in Inseego in the second quarter valued at approximately $82,000. Institutional investors own 34.20% of the company’s stock.

Inseego Price Performance

INSG opened at $16.64 on Tuesday. The company has a market cap of $253.09 million, a price-to-earnings ratio of -47.54 and a beta of 1.26. The firm has a 50 day simple moving average of $14.24 and a 200 day simple moving average of $10.13. Inseego has a fifty-two week low of $6.24 and a fifty-two week high of $19.75.

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.