Inseego (INSG) – What Are Brokerages Saying About This Stock?

Inseego (NASDAQ:INSG) has been assigned an average rating of “Hold” from the six research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $13.00.

INSG has been the subject of several recent research reports. Lake Street Capital set a $12.00 price objective on shares of Inseego in a research report on Thursday, August 6th. Roth Capital restated a “buy” rating on shares of Inseego in a research note on Friday, August 7th. UBS Group set a $9.00 price objective on Inseego in a research note on Thursday, August 6th. Zacks Research upgraded Inseego from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 6th. Finally, Wall Street Zen upgraded Inseego from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 31st.

Inseego Stock Performance

Inseego stock opened at $4.25 on Wednesday. The stock has a fifty day moving average of $4.29 and a two-hundred day moving average of $9.08. The company has a market capitalization of $78.58 million, a price-to-earnings ratio of -10.90 and a beta of 1.65. Inseego has a fifty-two week low of $3.58 and a fifty-two week high of $21.90.

Inseego (NASDAQ:INSG) last posted its quarterly earnings data on Wednesday, November 4th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.06. The business had revenue of $33.26 million for the quarter, compared to analyst estimates of $31.21 million. On average, analysts forecast that Inseego will post -1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Inseego

A number of hedge funds have recently added to or reduced their stakes in INSG. Militia Capital Management LLC bought a new position in shares of Inseego in the 1st quarter worth about $518,000. Renaissance Technologies LLC raised its stake in Inseego by 64.7% during the first quarter. Renaissance Technologies LLC now owns 118,317 shares of the technology company’s stock worth $1,316,000 after acquiring an additional 46,500 shares during the period. Bank of New York Mellon Corp bought a new position in Inseego in the second quarter worth about $290,000. Dimensional Fund Advisors LP lifted its holdings in Inseego by 25.7% in the first quarter. Dimensional Fund Advisors LP now owns 129,235 shares of the technology company’s stock worth $1,436,000 after acquiring an additional 26,423 shares during the last quarter. Finally, WINTON GROUP Ltd boosted 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 acquiring an additional 21,119 shares during the period. Institutional investors and hedge funds own 34.20% of the company’s stock.

Inseego Company Profile

Inseego Corp. develops wireless broadband and mobile networking solutions for service providers, enterprises, small businesses, government organizations and consumers. The company focuses on connecting devices, locations and users through cellular networks, with an emphasis on 5G and other high-speed wireless technologies. Its product portfolio includes mobile hotspots, fixed wireless access equipment, indoor and outdoor customer-premises equipment, routers and gateways. Inseego also provides cloud-based device management and networking software designed to help customers provision, monitor and manage connected equipment.