Inseego Corp. (INSG) Rating Increased to Hold at Zacks Investment Research
Inseego Corp. (NASDAQ:INSG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Inseego Corp. is a provider of software-as-a-service and solutions for the Internet of Things. The company sells telematics solutions under the Ctrack brand, including fleet management, asset tracking and monitoring, stolen vehicle recovery and usage-based insurance platforms. It also sells business connectivity solutions and device management services through Novatel Wireless, Inc. and Feeney Wireless. Inseego Corp., formerly known as Novatel Wireless Inc., is headquartered in San Diego, California. “
INSG has been the topic of a number of other reports. Northland Securities set a $2.00 price objective on shares of Inseego Corp. and gave the company a “buy” rating in a research report on Monday, August 14th. Canaccord Genuity boosted their price objective on shares of Inseego Corp. from $1.25 to $1.50 and gave the company a “hold” rating in a research report on Tuesday, August 8th. Finally, ValuEngine raised shares of Inseego Corp. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th.
Inseego Corp. (NASDAQ INSG) opened at 1.50 on Monday. The stock’s market cap is $84.29 million. The firm’s 50-day moving average is $1.22 and its 200-day moving average is $1.62. Inseego Corp. has a 1-year low of $0.87 and a 1-year high of $3.23.
Inseego Corp. (NASDAQ:INSG) last announced its quarterly earnings data on Monday, August 7th. The technology company reported ($0.21) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.21). The company had revenue of $59.91 million for the quarter, compared to analysts’ expectations of $55.11 million. On average, analysts forecast that Inseego Corp. will post ($0.35) EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Spark Investment Management LLC grew its position in Inseego Corp. by 55.1% during the first quarter. Spark Investment Management LLC now owns 58,800 shares of the technology company’s stock valued at $122,000 after purchasing an additional 20,900 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Inseego Corp. by 2,239.6% during the first quarter. Goldman Sachs Group Inc. now owns 696,502 shares of the technology company’s stock valued at $1,456,000 after purchasing an additional 666,732 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Inseego Corp. by 2.4% during the second quarter. Vanguard Group Inc. now owns 1,050,470 shares of the technology company’s stock valued at $1,313,000 after purchasing an additional 25,100 shares in the last quarter. 9.89% of the stock is currently owned by hedge funds and other institutional investors.
Inseego Corp. Company Profile
Novatel Wireless, Inc is a provider of intelligent wireless solutions for the mobile communications market. The Company’s range of products includes intelligent mobile hotspots, universal serial bus (USB) modems, embedded modules, integrated asset-management and mobile tracking machine-to-machine (M2M) devices, communications and applications software and cloud services.
Receive News & Ratings for Inseego Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inseego Corp. and related companies with MarketBeat.com's FREE daily email newsletter.