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

Shares of Inseego (NASDAQ:INSG) have been given an average recommendation of “Hold” by the eight brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $14.60.

A number of research analysts recently issued reports on INSG shares. Wall Street Zen downgraded shares of Inseego from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 8th. TD Cowen reiterated a “hold” rating and set a $18.00 price objective (up from $15.00) on shares of Inseego in a research note on Wednesday, May 13th. Lake Street Capital set a $12.00 price objective on Inseego in a report on Thursday, August 6th. Zacks Research downgraded Inseego from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. Finally, UBS Group set a $9.00 target price on Inseego in a report on Thursday, August 6th.

Institutional Investors Weigh In On Inseego

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AXQ Capital LP purchased a new position in shares of Inseego during the 2nd quarter valued at approximately $128,000. Bank of New York Mellon Corp acquired a new stake in Inseego during the second quarter valued at $290,000. Militia Capital Management LLC acquired a new stake in Inseego during the first quarter valued at $518,000. Renaissance Technologies LLC increased its holdings in Inseego by 64.7% in the first quarter. Renaissance Technologies LLC now owns 118,317 shares of the technology company’s stock valued at $1,316,000 after buying an additional 46,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Inseego by 25.7% in the first quarter. Dimensional Fund Advisors LP now owns 129,235 shares of the technology company’s stock valued at $1,436,000 after buying an additional 26,423 shares in the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

Inseego Trading Down 3.4%

INSG opened at $4.03 on Friday. Inseego has a 12-month low of $3.93 and a 12-month high of $21.90. The firm has a 50 day moving average of $6.56 and a two-hundred day moving average of $10.54. The firm has a market capitalization of $66.17 million, a PE ratio of 31.00 and a beta of 1.65.

Inseego (NASDAQ:INSG) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The business had revenue of $43.98 million during the quarter, compared to analysts’ expectations of $39.90 million. Inseego had a negative net margin of 6.41% and a negative return on equity of 13.38%. As a group, analysts predict that Inseego will post -1.39 EPS for the current fiscal year.

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.