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 research report issued on Saturday, Wall Street Zen reports.
Other analysts have also recently issued reports about the company. Roth Capital restated a “buy” rating on shares of Inseego in a research note on Friday, August 7th. UBS Group set a $9.00 price objective on Inseego in a report on Thursday, August 6th. Weiss Ratings lowered Inseego from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Zacks Research cut Inseego from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. Finally, Lake Street Capital set a $12.00 price target on Inseego in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.60.
Check Out Our Latest Stock Analysis on INSG
Inseego Price Performance
Inseego (NASDAQ:INSG – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The firm had revenue of $43.98 million for the quarter, compared to analyst estimates of $39.90 million. Inseego had a negative return on equity of 13.38% and a negative net margin of 6.41%. On average, equities analysts anticipate that Inseego will post -1.39 EPS for the current year.
Institutional Trading of Inseego
Several institutional investors and hedge funds have recently made changes to their positions in INSG. WINTON GROUP Ltd increased its position in Inseego by 138.3% during the second quarter. WINTON GROUP Ltd now owns 36,387 shares of the technology company’s stock worth $376,000 after buying an additional 21,119 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Inseego in the second quarter valued at approximately $115,000. AXQ Capital LP acquired a new stake in shares of Inseego in the second quarter valued at approximately $128,000. Bank of New York Mellon Corp purchased a new position in shares of Inseego during the second quarter worth approximately $290,000. Finally, Militia Capital Management LLC purchased a new position in shares of Inseego during the first quarter worth approximately $518,000. 34.20% of the stock is owned by hedge funds and other institutional investors.
Inseego Company Profile
Inseego Corp. (NASDAQ: INSG) develops and supplies wireless broadband solutions for businesses, service providers and other organizations. Its product portfolio includes 4G LTE and 5G mobile hotspots, fixed wireless access devices, indoor and outdoor customer-premises equipment, routers and gateways designed to provide primary or backup internet connectivity.
The company also provides cloud-based management and software tools that help customers deploy, monitor and manage connected devices and wireless networks.
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