Inseego (NASDAQ:INSG) Receives $18.50 Consensus Target Price from Analysts

Shares of Inseego (NASDAQ:INSG) have been assigned a consensus recommendation of “Hold” from the five brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $18.50.

Several equities analysts recently commented on INSG shares. Weiss Ratings raised shares of Inseego from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 11th. TD Cowen restated a “hold” rating and set a $18.00 price target (up from $15.00) on shares of Inseego in a research report on Wednesday, May 13th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $22.00 price objective on shares of Inseego in a research note on Friday, May 1st.

Hedge Funds Weigh In On Inseego

Several institutional investors and hedge funds have recently bought and sold shares of INSG. Kestra Advisory Services LLC bought a new stake in Inseego in the fourth quarter valued at approximately $33,000. BNP Paribas Financial Markets boosted its stake in shares of Inseego by 129.3% during the third quarter. BNP Paribas Financial Markets now owns 2,708 shares of the technology company’s stock valued at $41,000 after purchasing an additional 1,527 shares during the period. Bank of America Corp DE grew its holdings in shares of Inseego by 134.3% in the second quarter. Bank of America Corp DE now owns 5,870 shares of the technology company’s stock worth $48,000 after purchasing an additional 3,365 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Inseego by 3,087.9% in the second 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 during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Inseego in the second quarter worth $56,000. 34.20% of the stock is currently owned by institutional investors.

Inseego Price Performance

Shares of INSG opened at $12.55 on Wednesday. The firm has a market cap of $204.31 million, a P/E ratio of 20.24 and a beta of 1.76. The stock has a 50 day simple moving average of $13.64 and a two-hundred day simple moving average of $12.05. Inseego has a 1 year low of $6.27 and a 1 year high of $21.90.

Inseego (NASDAQ:INSG) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.09. The firm had revenue of $34.34 million for the quarter, compared to the consensus estimate of $34.53 million. Inseego had a negative net margin of 1.26% and a negative return on equity of 13.38%. On average, equities analysts anticipate that Inseego will post -0.21 earnings per share for the current year.

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.