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

Shares of Inseego (NASDAQ:INSG) have earned an average recommendation of “Hold” from the five ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $18.50.

INSG has been the subject of a number of research reports. Lake Street Capital reissued a “buy” rating and set a $22.00 price target on shares of Inseego in a research note on Friday, May 1st. Weiss Ratings raised Inseego from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, TD Cowen reaffirmed a “hold” rating and set a $18.00 price objective (up from $15.00) on shares of Inseego in a report on Wednesday, May 13th.

Institutional Investors Weigh In On Inseego

A number of hedge funds have recently bought and sold shares of INSG. 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 buying an additional 1,527 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Inseego in the 4th quarter worth about $33,000. Bank of America Corp DE raised its position in shares of Inseego by 134.3% during the 2nd quarter. Bank of America Corp DE now owns 5,870 shares of the technology company’s stock valued at $48,000 after buying an additional 3,365 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Inseego by 3,087.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock valued at $50,000 after buying an additional 5,867 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Inseego in the 2nd quarter valued at about $56,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.

Inseego Stock Performance

Shares of NASDAQ INSG opened at $7.03 on Monday. The company has a market cap of $114.45 million, a P/E ratio of 11.34 and a beta of 1.70. The firm’s fifty day moving average is $9.75 and its two-hundred day moving average is $11.56. Inseego has a 52-week low of $6.22 and a 52-week high of $21.90.

Inseego (NASDAQ:INSG) last announced its quarterly earnings results on Friday, May 8th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.09. The business had revenue of $34.34 million for the quarter, compared to analysts’ expectations of $34.53 million. Inseego had a negative net margin of 1.26% and a negative return on equity of 13.38%. As a group, analysts forecast that Inseego will post -0.45 EPS 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.