Inseego (NASDAQ:INSG) Receives Consensus Rating of “Hold” from Analysts

Shares of Inseego (NASDAQ:INSG) have earned an average recommendation of “Hold” from the five research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $18.50.

INSG has been the topic of several recent research reports. Lake Street Capital reaffirmed a “buy” rating and set a $22.00 price objective on shares of Inseego in a report on Friday, May 1st. TD Cowen reissued a “hold” rating and issued a $18.00 price target (up from $15.00) on shares of Inseego in a report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Inseego from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 11th.

Inseego Trading Up 4.0%

Inseego stock opened at $11.09 on Friday. The company has a market cap of $180.55 million, a price-to-earnings ratio of 17.89 and a beta of 1.63. Inseego has a 12 month low of $6.27 and a 12 month high of $21.90. The business’s 50 day simple moving average is $13.81 and its 200 day simple moving average is $12.09.

Inseego (NASDAQ:INSG) last released its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.09. The business 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%. As a group, equities research analysts forecast that Inseego will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inseego

A number of institutional investors and hedge funds have recently modified their holdings of INSG. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Inseego by 23.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 19,313 shares of the technology company’s stock worth $158,000 after buying an additional 3,685 shares in the last quarter. Geode Capital Management LLC raised its stake in Inseego by 118.9% in the second quarter. Geode Capital Management LLC now owns 279,787 shares of the technology company’s stock valued at $2,306,000 after purchasing an additional 151,970 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Inseego by 3,087.9% in the second quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock valued at $50,000 after purchasing an additional 5,867 shares in the last quarter. XTX Topco Ltd purchased a new stake in Inseego in the second quarter valued at approximately $89,000. Finally, New York State Common Retirement Fund purchased a new stake in Inseego in the second quarter valued at approximately $101,000. 34.20% of the stock is owned by hedge funds and other institutional investors.

Inseego Company Profile

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.