Inseego (INSG) Now Covered by Analysts at Roth Capital

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Roth Capital assumed coverage on shares of Inseego (NASDAQ:INSG) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $5.00 target price on the technology company’s stock.

A number of other research analysts have also recently commented on the company. BidaskClub raised Inseego from a buy rating to a strong-buy rating in a research note on Friday, September 14th. Canaccord Genuity reaffirmed a buy rating and set a $5.00 target price (up previously from $4.50) on shares of Inseego in a research note on Monday, September 17th. Northland Securities upped their target price on Inseego from $3.00 to $4.50 and gave the company an outperform rating in a research note on Tuesday, September 11th. Finally, ValuEngine raised Inseego from a hold rating to a buy rating in a research note on Thursday, August 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $4.25.

Shares of INSG traded up $0.18 during mid-day trading on Friday, reaching $3.55. 452,418 shares of the company’s stock traded hands, compared to its average volume of 399,821. The stock has a market cap of $278.79 million, a price-to-earnings ratio of -4.55 and a beta of 0.31. Inseego has a 12 month low of $1.26 and a 12 month high of $4.49. The company has a debt-to-equity ratio of -2.07, a quick ratio of 0.72 and a current ratio of 0.91.

Inseego (NASDAQ:INSG) last released its earnings results on Tuesday, August 7th. The technology company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The business had revenue of $49.06 million for the quarter, compared to the consensus estimate of $46.44 million. As a group, analysts predict that Inseego will post -0.38 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Family Management Corp boosted its holdings in shares of Inseego by 525.0% in the second quarter. Family Management Corp now owns 262,502 shares of the technology company’s stock valued at $527,000 after purchasing an additional 220,502 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Inseego by 21.6% in the second quarter. Renaissance Technologies LLC now owns 451,900 shares of the technology company’s stock valued at $908,000 after purchasing an additional 80,400 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Inseego by 3.1% in the second quarter. BlackRock Inc. now owns 1,047,118 shares of the technology company’s stock valued at $2,105,000 after purchasing an additional 31,469 shares during the period. 6.41% of the stock is currently owned by hedge funds and other institutional investors.

About Inseego

Inseego Corp., together with its subsidiaries, provides software-as-a-service (SaaS), Internet of Things (IoT), and mobile solutions worldwide. The company sells SaaS, software, and service solutions across multiple IoT vertical markets, including fleet management and vehicle telematics, aviation, usage-based insurance, stolen vehicle recovery, asset tracking and monitoring, business connectivity, and subscription management.

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