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

Inseego (NASDAQ:INSG – Get Free Report) has been given an average recommendation of “Hold” by the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $14.60.

Several analysts have recently commented on INSG shares. Wall Street Zen upgraded shares of Inseego from a “strong sell” rating to a “sell” rating in a research note on Saturday. UBS Group set a $9.00 price objective on Inseego in a report on Thursday, August 6th. Lake Street Capital set a $12.00 price target on Inseego in a report on Thursday, August 6th. Zacks Research downgraded Inseego from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Inseego in a report on Friday, August 7th.

Get Inseego alerts:

Get Our Latest Analysis on Inseego

Hedge Funds Weigh In On Inseego

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position 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 valued at $334,000 after buying an additional 2,246 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Inseego during the second quarter valued at approximately $115,000. AXQ Capital LP purchased a new stake in Inseego in the 4th quarter worth approximately $125,000. 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 boosted its holdings in shares of 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 purchasing an additional 26,423 shares during the last quarter. Hedge funds and other institutional investors own 34.20% of the company’s stock.

Inseego Price Performance

Inseego stock opened at $4.18 on Tuesday. The business has a 50 day simple moving average of $5.42 and a 200-day simple moving average of $9.90. Inseego has a 12 month low of $3.93 and a 12 month high of $21.90. The stock has a market capitalization of $68.64 million, a PE ratio of 32.16 and a beta of 1.65.

Inseego (NASDAQ:INSG – Get Free Report) last posted 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 analysts’ expectations of $39.90 million. Inseego had a negative net margin of 6.41% and a negative return on equity of 13.38%. As a group, equities research analysts anticipate that Inseego will post -1.39 EPS for the current year.

About Inseego

(Get Free Report)

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.

Recommended Stories

• Five stocks we like better than Inseego
• Can Bloom Energy Pop the Top Off AI’s Massive Energy Bottleneck?
• Coach’s Momentum Powers Tapestry Despite the Stock’s Sharp Pullback
• AI Is Reshaping SaaS—These 2 Software ETFs Offer Different Ways to Play It
• Insiders Signal Deep Value In DICK’s Sporting Goods

Receive News & Ratings for Inseego Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inseego and related companies with MarketBeat.com's FREE daily email newsletter.