Inseego (NASDAQ:INSG) Given Consensus Recommendation of “Hold” by Brokerages

Inseego (NASDAQ:INSG) has been assigned a consensus rating of “Hold” from the five analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $17.00.

A number of research analysts have recently commented on INSG shares. Wall Street Zen raised Inseego from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Stifel Nicolaus set a $14.00 target price on Inseego and gave the stock a “hold” rating in a research report on Friday, October 17th. Cowen reissued a “hold” rating on shares of Inseego in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Inseego in a research note on Monday, December 29th. Finally, Lake Street Capital initiated coverage on shares of Inseego in a research note on Monday, December 15th. They issued a “buy” rating and a $17.00 target price on the stock.

Institutional Investors Weigh In On Inseego

Several hedge funds have recently modified their holdings of INSG. BNP Paribas Financial Markets raised its position in Inseego by 129.3% in the third quarter. BNP Paribas Financial Markets now owns 2,708 shares of the technology company’s stock worth $41,000 after purchasing an additional 1,527 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in Inseego during the second quarter valued at approximately $28,000. Bank of America Corp DE grew its stake in shares of Inseego by 134.3% in the 2nd quarter. Bank of America Corp DE now owns 5,870 shares of the technology company’s stock valued at $48,000 after purchasing an additional 3,365 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Inseego by 3,087.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock worth $50,000 after buying an additional 5,867 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Inseego during the 2nd quarter worth approximately $56,000. 34.20% of the stock is owned by institutional investors.

Inseego Trading Up 7.9%

NASDAQ INSG traded up $0.84 during trading on Thursday, reaching $11.52. The company’s stock had a trading volume of 111,722 shares, compared to its average volume of 133,120. The stock has a market capitalization of $176.62 million, a PE ratio of -44.29 and a beta of 1.14. Inseego has a 1-year low of $6.24 and a 1-year high of $18.11. The business has a 50-day moving average price of $11.09 and a 200-day moving average price of $11.40.

Inseego (NASDAQ:INSG) last released its quarterly earnings data on Friday, November 7th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.16). The business had revenue of $45.89 million during the quarter, compared to analyst estimates of $41.86 million. Inseego had a negative net margin of 0.12% and a negative return on equity of 8.87%. As a group, analysts expect that Inseego will post -0.06 earnings per share for the current year.

Inseego Company Profile

Inseego Corp is a U.S.-based technology company specializing in 5G and intelligent Internet of Things (IoT) device-to-cloud solutions. The company develops hardware and software platforms designed to connect devices, vehicles and remote locations to high-speed wireless networks. Its core offerings include mobile hotspots, fixed wireless access gateways and ruggedized routers optimized for enterprise, industrial and government applications.

Inseego’s product portfolio encompasses 5G MiFi® mobile hotspots, virtual network functions (VNFs) for network management, telematics devices for fleet tracking and asset monitoring, as well as a suite of cloud-native software for device lifecycle management and data analytics.