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

Shares of Inseego (NASDAQ:INSG) have earned a consensus recommendation of “Hold” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $16.50.

A number of research analysts have recently commented on INSG shares. Weiss Ratings restated a “sell (d-)” rating on shares of Inseego in a research note on Monday, December 29th. Stifel Nicolaus set a $14.00 price objective on Inseego and gave the stock a “hold” rating in a report on Friday, October 17th. TD Cowen restated a “hold” rating and set a $15.00 target price (up previously from $14.00) on shares of Inseego in a report on Thursday, January 15th. Lake Street Capital began coverage on shares of Inseego in a research report on Monday, December 15th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, Wall Street Zen raised shares of Inseego from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th.

Inseego Price Performance

Shares of NASDAQ INSG opened at $10.48 on Monday. Inseego has a 1 year low of $6.24 and a 1 year high of $18.11. The stock has a market capitalization of $160.66 million, a P/E ratio of -40.31 and a beta of 1.18. The company’s 50-day moving average is $10.98 and its 200 day moving average is $11.81.

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

Institutional Trading of Inseego

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its stake in Inseego by 129.3% during the third quarter. BNP Paribas Financial Markets now owns 2,708 shares of the technology company’s stock valued at $41,000 after buying an additional 1,527 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Inseego by 5.5% during the third quarter. Stratos Wealth Partners LTD. now owns 32,375 shares of the technology company’s stock valued at $485,000 after acquiring an additional 1,700 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Inseego in the 2nd quarter worth about $28,000. Bank of America Corp DE boosted its stake in Inseego by 134.3% in the 2nd 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. Finally, Dynamic Technology Lab Private Ltd boosted its stake in Inseego by 23.6% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 19,313 shares of the technology company’s stock worth $158,000 after purchasing an additional 3,685 shares in the last quarter. Hedge funds and other institutional investors own 34.20% of the company’s stock.

Inseego Company 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.