Inseego (NASDAQ:INSG) Given Consensus Rating of “Hold” by Brokerages

Inseego (NASDAQ:INSG) has earned an average recommendation of “Hold” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $16.50.

A number of equities research analysts have recently weighed in on the stock. Lake Street Capital assumed coverage on shares of Inseego in a research note on Monday, December 15th. They issued a “buy” rating and a $17.00 price target on the stock. TD Cowen reaffirmed a “hold” rating and set a $15.00 target price (up from $14.00) on shares of Inseego in a research note on Thursday, January 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inseego in a report on Monday, December 29th. Finally, Wall Street Zen raised Inseego from a “sell” rating to a “hold” rating in a report on Sunday, November 16th.

Inseego Stock Performance

Shares of INSG opened at $11.30 on Friday. Inseego has a 52-week low of $6.24 and a 52-week high of $18.11. The firm has a market cap of $183.29 million, a price-to-earnings ratio of -59.47 and a beta of 1.18. The business’s fifty day moving average is $11.04 and its 200-day moving average is $12.27.

Inseego (NASDAQ:INSG) last released its quarterly earnings data on Thursday, February 19th. The technology company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.05. The business had revenue of $48.40 million for the quarter, compared to analyst estimates of $46.89 million. Inseego had a negative return on equity of 13.38% and a net margin of 0.50%. As a group, research analysts forecast that Inseego will post -0.06 EPS for the current fiscal year.

Institutional Trading of Inseego

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in shares of Inseego by 129.3% in 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 period. Kestra Advisory Services LLC bought a new stake in Inseego during the 4th quarter worth approximately $33,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Inseego in the 2nd quarter valued at approximately $28,000. Bank of America Corp DE raised its stake in shares of Inseego by 134.3% during the second quarter. Bank of America Corp DE now owns 5,870 shares of the technology company’s stock valued at $48,000 after acquiring an additional 3,365 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Inseego by 3,087.9% during the second quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock worth $50,000 after purchasing an additional 5,867 shares during the period. 34.20% of the stock is currently owned by institutional investors.

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.