Inseego (NASDAQ:INSG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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. “

Several other research analysts have also commented on INSG. Northland Securities restated a “buy” rating and issued a $2.00 price target on shares of Inseego in a report on Sunday, October 1st. ValuEngine lowered shares of Inseego from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 3rd. Finally, Canaccord Genuity raised their price target on shares of Inseego from $1.50 to $1.75 and gave the company a “hold” rating in a report on Friday, November 3rd.

Inseego (NASDAQ:INSG) opened at $1.68 on Wednesday. Inseego has a 1-year low of $0.87 and a 1-year high of $3.23. The company has a debt-to-equity ratio of -2.59, a current ratio of 1.10 and a quick ratio of 0.78. The company has a market cap of $97.92, a P/E ratio of -1.38 and a beta of 0.27.

Inseego (NASDAQ:INSG) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.03). equities analysts expect that Inseego will post -0.86 EPS for the current fiscal year.

In other news, Chairman Philip Falcone sold 91,023 shares of Inseego stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $1.33, for a total transaction of $121,060.59. Following the sale, the chairman now owns 28,333 shares in the company, valued at $37,682.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.10% of the company’s stock.

A hedge fund recently raised its stake in Inseego stock. Goldman Sachs Group Inc. grew its position in shares of Inseego Corp (NASDAQ:INSG) by 0.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 700,539 shares of the technology company’s stock after purchasing an additional 4,037 shares during the period. Goldman Sachs Group Inc. owned approximately 1.25% of Inseego worth $876,000 as of its most recent SEC filing. Institutional investors and hedge funds own 12.14% of the company’s stock.

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About Inseego

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.

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