Inseego (NASDAQ:INSG) Stock Moved Down to “Strong Sell” by Wall Street Zen

Wall Street Zen cut shares of Inseego (NASDAQ:INSG) from a sell rating to a strong sell rating in a research note published on Saturday,Wall Street Zen reports.

Several other research firms have also recently weighed in on INSG. Lake Street Capital set a $12.00 price objective on shares of Inseego in a research report on Thursday, August 6th. Weiss Ratings lowered shares of Inseego from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 21st. UBS Group set a $9.00 price target on shares of Inseego in a research report on Thursday, August 6th. Zacks Research downgraded Inseego from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Finally, Roth Capital reissued a “buy” rating on shares of Inseego in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $14.60.

Inseego Price Performance

Shares of INSG stock opened at $4.61 on Friday. The stock has a market capitalization of $75.70 million, a PE ratio of 35.46 and a beta of 1.61. The business’s 50 day simple moving average is $4.80 and its 200 day simple moving average is $9.44. Inseego has a one year low of $3.58 and a one year high of $21.90.

Inseego (NASDAQ:INSG) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The business had revenue of $43.98 million for the quarter, compared to analysts’ expectations of $39.90 million. As a group, research analysts expect that Inseego will post -1.39 earnings per share for the current year.

Institutional Trading of Inseego

Hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP acquired a new position in shares of Inseego during the 2nd quarter valued at $115,000. AXQ Capital LP acquired a new stake in Inseego in the fourth quarter worth $125,000. Bank of New York Mellon Corp acquired a new stake in Inseego in the second quarter worth $290,000. WINTON GROUP Ltd increased its stake in Inseego by 138.3% in the second quarter. WINTON GROUP Ltd now owns 36,387 shares of the technology company’s stock valued at $376,000 after purchasing an additional 21,119 shares in the last quarter. Finally, Militia Capital Management LLC bought a new stake in Inseego in the first quarter valued at $518,000. Institutional investors own 34.20% of the company’s stock.

About Inseego

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.