Inseego (NASDAQ:INSG) Rating Lowered to Strong Sell at Wall Street Zen

Inseego (NASDAQ:INSG) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a research report issued on Saturday.

A number of other research analysts also recently commented on the stock. Lake Street Capital set a $12.00 price target on shares of Inseego in a report on Thursday. Roth Capital restated a “buy” rating on shares of Inseego in a research report on Friday. TD Cowen reaffirmed a “hold” rating and issued a $18.00 price objective (up from $15.00) on shares of Inseego in a research note on Wednesday, May 13th. Weiss Ratings upgraded Inseego from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, UBS Group set a $9.00 target price on Inseego in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Inseego currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.60.

Inseego Stock Performance

Shares of INSG opened at $5.51 on Friday. The stock has a market capitalization of $90.47 million, a PE ratio of 42.39 and a beta of 1.70. The company’s fifty day moving average is $9.15 and its 200 day moving average is $11.39. Inseego has a fifty-two week low of $4.77 and a fifty-two week high of $21.90.

Inseego (NASDAQ:INSG) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Inseego had a negative net margin of 6.41% and a negative return on equity of 13.38%. The business had revenue of $43.98 million for the quarter, compared to the consensus estimate of $39.90 million. As a group, research analysts forecast that Inseego will post -0.45 earnings per share for the current year.

Institutional Trading of Inseego

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Inseego by 4.6% during the third quarter. Vanguard Group Inc. now owns 663,660 shares of the technology company’s stock valued at $9,935,000 after buying an additional 29,236 shares during the period. Royce & Associates LP raised its holdings in shares of Inseego by 25.4% in the fourth quarter. Royce & Associates LP now owns 508,000 shares of the technology company’s stock worth $5,217,000 after buying an additional 103,000 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Inseego by 171.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 502,026 shares of the technology company’s stock worth $4,137,000 after acquiring an additional 317,401 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Inseego by 209.4% during the 4th quarter. First Eagle Investment Management LLC now owns 435,849 shares of the technology company’s stock worth $4,476,000 after acquiring an additional 294,999 shares during the last quarter. Finally, Gendell Jeffrey L boosted its holdings in Inseego by 34.6% during the 4th quarter. Gendell Jeffrey L now owns 429,301 shares of the technology company’s stock valued at $4,409,000 after acquiring an additional 110,253 shares during the period. Institutional investors own 34.20% of the company’s stock.

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.