Inseego (NASDAQ:INSG) Receives Average Recommendation of “Hold” from Brokerages

Inseego (NASDAQ:INSG) has been assigned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $18.50.

A number of analysts have commented on the stock. Lake Street Capital restated a “buy” rating and set a $22.00 price target on shares of Inseego in a research note on Friday, May 1st. TD Cowen restated a “hold” rating and set a $18.00 price target (up from $15.00) on shares of Inseego in a research note on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of Inseego from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 11th.

Institutional Trading of Inseego

Several institutional investors have recently made changes to their positions in INSG. Kestra Advisory Services LLC bought a new stake in shares of Inseego in the 4th quarter worth $33,000. BNP Paribas Financial Markets grew its stake in shares of Inseego by 129.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,708 shares of the technology company’s stock worth $41,000 after acquiring an additional 1,527 shares in the last quarter. Bank of America Corp DE grew its stake in shares of 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 acquiring an additional 3,365 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Inseego by 3,087.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock worth $50,000 after acquiring an additional 5,867 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Inseego in the 2nd quarter worth $56,000. Institutional investors own 34.20% of the company’s stock.

Inseego Trading Up 4.0%

Shares of INSG stock opened at $11.09 on Friday. The firm has a market capitalization of $180.55 million, a PE ratio of 17.89 and a beta of 1.63. The firm has a fifty day simple moving average of $13.81 and a two-hundred day simple moving average of $12.09. Inseego has a 12 month low of $6.27 and a 12 month high of $21.90.

Inseego (NASDAQ:INSG) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.09. The business had revenue of $34.34 million during the quarter, compared to analyst estimates of $34.53 million. Inseego had a negative net margin of 1.26% and a negative return on equity of 13.38%. On average, equities analysts predict that Inseego will post -0.45 earnings per share for the current fiscal year.

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.