Inseego (NASDAQ:INSG) Stock Has Consensus Price Target of $14.60

Shares of Inseego (NASDAQ:INSG) have been given a consensus recommendation of “Hold” by the eight brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $14.60.

INSG has been the subject of several recent analyst reports. Lake Street Capital set a $12.00 target price on Inseego in a report on Thursday, August 6th. Roth Capital reaffirmed a “buy” rating on shares of Inseego in a research report on Friday, August 7th. Weiss Ratings cut shares of Inseego from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Zacks Research cut shares of Inseego from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. Finally, Wall Street Zen raised shares of Inseego from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 19th.

Inseego Price Performance

INSG opened at $3.61 on Tuesday. The company’s 50-day moving average is $5.04 and its 200 day moving average is $9.64. Inseego has a fifty-two week low of $3.59 and a fifty-two week high of $21.90. The firm has a market capitalization of $59.28 million, a P/E ratio of 27.77 and a beta of 1.65.

Inseego (NASDAQ:INSG) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The firm had revenue of $43.98 million for the quarter, compared to analysts’ expectations of $39.90 million. Inseego had a negative return on equity of 13.38% and a negative net margin of 6.41%. On average, equities research analysts expect that Inseego will post -1.39 earnings per share for the current year.

Hedge Funds Weigh In On Inseego

Several institutional investors and hedge funds have recently bought and sold shares of the company. Engineers Gate Manager LP bought a new stake in shares of Inseego in the second quarter valued at $115,000. AXQ Capital LP purchased a new stake in Inseego in the 4th quarter worth about $125,000. Bank of New York Mellon Corp bought a new stake in Inseego in the 2nd quarter valued at about $290,000. WINTON GROUP Ltd raised its stake in Inseego by 138.3% in the 2nd 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. Finally, Militia Capital Management LLC purchased a new stake in Inseego during the first quarter valued at about $518,000. 34.20% of the stock is owned by institutional investors.

About Inseego

Inseego Corp. (NASDAQ: INSG) develops and supplies wireless broadband solutions for businesses, service providers and other organizations. Its product portfolio includes 4G LTE and 5G mobile hotspots, fixed wireless access devices, indoor and outdoor customer-premises equipment, routers and gateways designed to provide primary or backup internet connectivity.

The company also provides cloud-based management and software tools that help customers deploy, monitor and manage connected devices and wireless networks.