Inseego $INSG Holdings Lowered by Wolverine Asset Management LLC

Wolverine Asset Management LLC cut its position in shares of Inseego (NASDAQ:INSG) by 26.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 237,742 shares of the technology company’s stock after selling 87,394 shares during the quarter. Wolverine Asset Management LLC owned 1.56% of Inseego worth $3,559,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of INSG. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Inseego during the second quarter valued at $28,000. Bank of America Corp DE lifted its position 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 purchasing an additional 3,365 shares in the last quarter. JPMorgan Chase & Co. grew its position in Inseego by 3,087.9% during the second quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock valued at $50,000 after purchasing an additional 5,867 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Inseego in the 2nd quarter worth approximately $56,000. Finally, Maven Securities LTD acquired a new stake in shares of Inseego during the 2nd quarter valued at $82,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.

Inseego Stock Up 3.8%

INSG stock opened at $12.12 on Friday. The business’s 50-day simple moving average is $11.00 and its 200 day simple moving average is $11.43. The company has a market cap of $185.76 million, a PE ratio of -46.62 and a beta of 1.14. Inseego has a twelve month low of $6.24 and a twelve month high of $18.11.

Inseego (NASDAQ:INSG) last posted its quarterly earnings results on Friday, November 7th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.16). The business had revenue of $45.89 million during the quarter, compared to analyst estimates of $41.86 million. Inseego had a negative return on equity of 8.87% and a negative net margin of 0.12%. On average, equities research analysts anticipate that Inseego will post -0.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on INSG. Craig Hallum set a $20.00 price objective on Inseego and gave the company a “buy” rating in a research report on Monday, October 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inseego in a research note on Monday, December 29th. Cowen restated a “hold” rating on shares of Inseego in a research note on Thursday. Wall Street Zen raised shares of Inseego from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, Stifel Nicolaus set a $14.00 target price on shares of Inseego and gave the stock a “hold” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $16.50.

Inseego Profile

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.