Inseego (NASDAQ:INSG) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Inseego (NASDAQ:INSG)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.15 and traded as high as $14.10. Inseego shares last traded at $12.40, with a volume of 208,316 shares.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. TD Cowen reissued a “hold” rating and set a $15.00 price target (up from $14.00) on shares of Inseego in a research report on Thursday, January 15th. Lake Street Capital assumed coverage on shares of Inseego in a report on Monday, December 15th. They set a “buy” rating and a $17.00 target price for the company. Wall Street Zen raised Inseego from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inseego in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.50.

Inseego Trading Down 9.2%

The business’s 50 day moving average price is $10.93 and its two-hundred day moving average price is $12.15. The stock has a market cap of $201.13 million, a P/E ratio of -65.26 and a beta of 1.18.

Inseego (NASDAQ:INSG) last issued its quarterly earnings data on Thursday, February 19th. The technology company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05. The business had revenue of $48.40 million during the quarter, compared to analyst estimates of $46.89 million. Inseego had a net margin of 0.50% and a negative return on equity of 13.38%. As a group, analysts expect that Inseego will post -0.06 earnings per share for the current year.

Hedge Funds Weigh In On Inseego

A number of institutional investors have recently added to or reduced their stakes in INSG. Royce & Associates LP purchased a new position in Inseego during the third quarter valued at $6,063,000. Balyasny Asset Management L.P. increased its stake in shares of Inseego by 171.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 502,026 shares of the technology company’s stock worth $4,137,000 after acquiring an additional 317,401 shares in the last quarter. First Eagle Investment Management LLC lifted its position in Inseego by 209.4% during the 4th quarter. First Eagle Investment Management LLC now owns 435,849 shares of the technology company’s stock valued at $4,476,000 after acquiring an additional 294,999 shares during the period. Blue Door Asset Management LLC purchased a new position in Inseego during the 4th quarter valued at about $2,210,000. Finally, Geode Capital Management LLC boosted its stake in Inseego by 118.9% during the second quarter. Geode Capital Management LLC now owns 279,787 shares of the technology company’s stock worth $2,306,000 after acquiring an additional 151,970 shares in the last quarter. Institutional investors own 34.20% of the company’s stock.

About Inseego

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.