Inseego (NASDAQ:INSG) Given Consensus Recommendation of “Hold” by Analysts

Shares of Inseego (NASDAQ:INSG – Get Free Report) have been assigned an average rating of “Hold” from the five research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $18.50.

INSG has been the subject of a number of research reports. TD Cowen reiterated a “hold” rating and set a $18.00 target price (up from $15.00) on shares of Inseego in a research report on Wednesday, May 13th. Lake Street Capital reaffirmed a “buy” rating and set a $22.00 price target on shares of Inseego in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Inseego from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 11th.

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Hedge Funds Weigh In On Inseego

Several large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd boosted its stake in Inseego by 23.6% during the first quarter. Dynamic Technology Lab Private Ltd now owns 19,313 shares of the technology company’s stock worth $158,000 after buying an additional 3,685 shares during the period. Geode Capital Management LLC raised its position in Inseego by 118.9% in the 2nd quarter. Geode Capital Management LLC now owns 279,787 shares of the technology company’s stock worth $2,306,000 after purchasing an additional 151,970 shares during the period. JPMorgan Chase & Co. raised its position in Inseego by 3,087.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock worth $50,000 after purchasing an additional 5,867 shares during the period. XTX Topco Ltd bought a new stake in Inseego in the second quarter worth about $89,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Inseego during the second quarter valued at approximately $101,000. Institutional investors own 34.20% of the company’s stock.

Inseego Trading Up 1.0%

NASDAQ:INSG opened at $8.26 on Thursday. The business’s 50-day moving average is $12.33 and its 200 day moving average is $11.92. Inseego has a 12 month low of $6.27 and a 12 month high of $21.90. The company has a market capitalization of $134.47 million, a P/E ratio of 13.32 and a beta of 1.65.

Inseego (NASDAQ:INSG – Get Free Report) last released its quarterly earnings results on Friday, May 8th. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.09. Inseego had a negative return on equity of 13.38% and a negative net margin of 1.26%.The business had revenue of $34.34 million during the quarter, compared to analysts’ expectations of $34.53 million. On average, research analysts forecast that Inseego will post -0.45 earnings per share for the current year.

About Inseego

(Get Free Report)

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.

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