Inseego Corp. (NASDAQ:INSG) Short Interest Update

Inseego Corp. (NASDAQ:INSG) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 801,100 shares, a growth of 15.8% from the March 15th total of 691,500 shares. Based on an average trading volume of 105,000 shares, the short-interest ratio is presently 7.6 days. Currently, 8.4% of the company’s shares are sold short.

Inseego Price Performance

Shares of NASDAQ INSG opened at $2.32 on Tuesday. The company’s fifty day moving average is $2.83 and its 200-day moving average is $2.78. The stock has a market cap of $27.56 million, a price-to-earnings ratio of -0.56 and a beta of 1.33. Inseego has a twelve month low of $1.62 and a twelve month high of $12.30.

Inseego (NASDAQ:INSG) last announced its quarterly earnings results on Wednesday, February 21st. The technology company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.48). The firm had revenue of $42.75 million for the quarter, compared to the consensus estimate of $40.57 million. On average, research analysts anticipate that Inseego will post -2.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, TD Cowen lifted their price target on shares of Inseego from $2.50 to $3.50 and gave the stock a “market perform” rating in a research report on Wednesday, March 13th.

Institutional Investors Weigh In On Inseego

Several institutional investors have recently added to or reduced their stakes in the stock. Braslyn Ltd. bought a new stake in Inseego in the 4th quarter valued at $1,675,000. Simplicity Solutions LLC bought a new stake in Inseego in the 4th quarter valued at $1,674,000. BlackRock Inc. lifted its position in Inseego by 1.3% in the 3rd quarter. BlackRock Inc. now owns 6,403,182 shares of the technology company’s stock valued at $13,256,000 after acquiring an additional 83,784 shares in the last quarter. Vanguard Group Inc. lifted its position in Inseego by 15.1% during the 1st quarter. Vanguard Group Inc. now owns 5,003,660 shares of the technology company’s stock worth $20,264,000 after buying an additional 658,044 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in Inseego by 16.4% during the 3rd quarter. GSA Capital Partners LLP now owns 1,602,866 shares of the technology company’s stock worth $673,000 after buying an additional 225,340 shares in the last quarter. 34.20% of the stock is owned by institutional investors.

About Inseego

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.