Inseego Corp. (INSG) Sees Unusually-High Trading Volume
Inseego Corp. (NASDAQ:INSG) saw unusually-high trading volume on Tuesday . Approximately 1,253,851 shares changed hands during mid-day trading, an increase of 395% from the previous session’s volume of 253,132 shares.The stock last traded at $1.50 and had previously closed at $1.36.
INSG has been the subject of several analyst reports. Zacks Investment Research raised shares of Inseego Corp. from a “sell” rating to a “buy” rating and set a $1.50 price target for the company in a research note on Wednesday, July 12th. ValuEngine raised shares of Inseego Corp. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Northland Securities set a $2.00 price target on shares of Inseego Corp. and gave the company a “buy” rating in a research note on Monday, June 26th. Finally, Canaccord Genuity increased their price target on shares of Inseego Corp. from $1.25 to $1.50 and gave the company a “hold” rating in a research note on Tuesday, August 8th.
The stock’s market capitalization is $84.29 million. The firm’s 50 day moving average is $1.22 and its 200-day moving average is $1.62.
Inseego Corp. (NASDAQ:INSG) last posted its quarterly earnings data on Monday, August 7th. The technology company reported ($0.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.21). The firm had revenue of $59.91 million during the quarter, compared to analyst estimates of $55.11 million. Equities analysts forecast that Inseego Corp. will post ($0.35) earnings per share for the current year.
Large investors have recently bought and sold shares of the company. Spark Investment Management LLC grew its holdings in Inseego Corp. by 55.1% in the first quarter. Spark Investment Management LLC now owns 58,800 shares of the technology company’s stock valued at $122,000 after purchasing an additional 20,900 shares during the period. Goldman Sachs Group Inc. grew its holdings in Inseego Corp. by 0.6% in the second quarter. Goldman Sachs Group Inc. now owns 700,539 shares of the technology company’s stock valued at $876,000 after purchasing an additional 4,037 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Inseego Corp. by 2.4% in the second quarter. Vanguard Group Inc. now owns 1,050,470 shares of the technology company’s stock valued at $1,313,000 after purchasing an additional 25,100 shares during the period. 9.89% of the stock is owned by institutional investors and hedge funds.
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About Inseego Corp.
Novatel Wireless, Inc is a provider of intelligent wireless solutions for the mobile communications market. The Company’s range of products includes intelligent mobile hotspots, universal serial bus (USB) modems, embedded modules, integrated asset-management and mobile tracking machine-to-machine (M2M) devices, communications and applications software and cloud services.
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