Inseego (NASDAQ:INSG) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Inseego (NASDAQ:INSG) have earned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $18.50.

A number of research firms have weighed in on INSG. Lake Street Capital reiterated a “buy” rating and set a $22.00 price objective on shares of Inseego in a research report on Friday, May 1st. Weiss Ratings upgraded shares of Inseego from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, TD Cowen reaffirmed a “hold” rating and set a $18.00 price target (up from $15.00) on shares of Inseego in a research note on Wednesday, May 13th.

Institutional Trading of Inseego

Institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new position in shares of Inseego during the fourth quarter valued at approximately $33,000. BNP Paribas Financial Markets raised its holdings in shares of Inseego by 129.3% in the third quarter. BNP Paribas Financial Markets now owns 2,708 shares of the technology company’s stock worth $41,000 after buying an additional 1,527 shares during the period. Bank of America Corp DE raised 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 buying an additional 3,365 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Inseego by 3,087.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock worth $50,000 after acquiring an additional 5,867 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Inseego during the 2nd quarter worth approximately $56,000. Institutional investors own 34.20% of the company’s stock.

Inseego Stock Performance

Shares of Inseego stock opened at $7.03 on Monday. The stock has a market cap of $114.45 million, a price-to-earnings ratio of 11.34 and a beta of 1.70. The stock has a 50 day moving average price of $9.75 and a 200-day moving average price of $11.56. Inseego has a one year low of $6.22 and a one year high of $21.90.

Inseego (NASDAQ:INSG) last released its quarterly earnings results on Friday, May 8th. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.09. The company had revenue of $34.34 million for the quarter, compared to analyst estimates of $34.53 million. Inseego had a negative return on equity of 13.38% and a negative net margin of 1.26%. Sell-side analysts predict that Inseego will post -0.45 earnings per share for the current fiscal 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.