Inseego (NASDAQ:INSG – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.
Other equities research analysts have also issued reports about the company. UBS Group set a $9.00 target price on Inseego in a research report on Thursday, August 6th. Zacks Research raised shares of Inseego from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 6th. Lake Street Capital set a $12.00 price objective on Inseego in a research note on Thursday, August 6th. Roth Capital reaffirmed a “buy” rating on shares of Inseego in a research report on Friday, August 7th. Finally, Weiss Ratings cut shares of Inseego from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.00.
View Our Latest Research Report on Inseego
Inseego Price Performance
NASDAQ INSG opened at $4.58 on Friday. The company has a market cap of $75.20 million, a price-to-earnings ratio of 35.23 and a beta of 1.64. Inseego has a 1 year low of $3.58 and a 1 year high of $21.90. The stock’s fifty day moving average price is $4.30 and its 200 day moving average price is $9.33.
Inseego (NASDAQ:INSG – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The firm had revenue of $43.98 million during the quarter, compared to analyst estimates of $39.90 million. Research analysts expect that Inseego will post -1.39 earnings per share for the current year.
Institutional Investors Weigh In On Inseego
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of Inseego by 8.1% in the first quarter. Bank of New York Mellon Corp now owns 30,076 shares of the technology company’s stock worth $334,000 after buying an additional 2,246 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Inseego in the second quarter valued at about $115,000. AXQ Capital LP purchased a new stake in shares of Inseego during the 2nd quarter worth approximately $128,000. WINTON GROUP Ltd grew its stake in Inseego by 138.3% in the 2nd quarter. WINTON GROUP Ltd now owns 36,387 shares of the technology company’s stock worth $376,000 after acquiring an additional 21,119 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Inseego by 25.7% during the first quarter. Dimensional Fund Advisors LP now owns 129,235 shares of the technology company’s stock worth $1,436,000 after buying an additional 26,423 shares during the period. Hedge funds and other institutional investors own 34.20% of the company’s stock.
Inseego Company Profile
Inseego Corp. develops wireless broadband and mobile networking solutions for service providers, enterprises, small businesses, government organizations and consumers. The company focuses on connecting devices, locations and users through cellular networks, with an emphasis on 5G and other high-speed wireless technologies.
Its product portfolio includes mobile hotspots, fixed wireless access equipment, indoor and outdoor customer-premises equipment, routers and gateways. Inseego also provides cloud-based device management and networking software designed to help customers provision, monitor and manage connected equipment.
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