Inseego (NASDAQ:INSG) Stock Now Rated “Hold” by Sell-Side Brokerages

Inseego (NASDAQ:INSG) has earned an average recommendation of “Hold” from the six analysts 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 and three have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $13.00.

A number of research firms have recently commented on INSG. Zacks Research raised shares of Inseego from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 6th. UBS Group set a $9.00 price objective on shares of Inseego in a report on Thursday, August 6th. Wall Street Zen cut shares of Inseego from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 3rd. Roth Capital restated a “buy” rating on shares of Inseego in a report on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Inseego from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 21st.

Hedge Funds Weigh In On Inseego

A number of hedge funds have recently made changes to their positions in INSG. Engineers Gate Manager LP purchased a new stake in shares of Inseego during the 2nd quarter valued at $115,000. AXQ Capital LP acquired a new stake in shares of Inseego during the 2nd quarter worth $128,000. Bank of New York Mellon Corp purchased a new position in shares of Inseego in the 2nd quarter worth $290,000. WINTON GROUP Ltd raised its position in shares of Inseego by 138.3% in the 2nd quarter. WINTON GROUP Ltd now owns 36,387 shares of the technology company’s stock worth $376,000 after buying an additional 21,119 shares during the period. Finally, Militia Capital Management LLC purchased a new position in shares of Inseego in the 1st quarter worth $518,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

Inseego Stock Performance

Inseego stock traded down $0.03 during trading on Friday, hitting $4.12. The company’s stock had a trading volume of 104,309 shares, compared to its average volume of 374,937. The stock has a market capitalization of $67.65 million, a price-to-earnings ratio of 31.69 and a beta of 1.61. The stock’s fifty day moving average is $4.32 and its 200 day moving average is $8.93. Inseego has a 1-year low of $3.58 and a 1-year high of $21.90.

Inseego (NASDAQ:INSG) last released its earnings results on Wednesday, August 5th. The technology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $43.98 million during the quarter, compared to analysts’ expectations of $39.90 million. On average, research analysts anticipate that Inseego will post -1.39 EPS for the current fiscal year.

About Inseego

Inseego Corp. (NASDAQ: INSG) develops wireless broadband and connectivity solutions for carriers, enterprises, small and medium-sized businesses, public-sector organizations, and consumers. Its products are designed to provide high-speed internet access over cellular networks, including 5G and 4G LTE.

The company’s portfolio includes fixed wireless access devices, mobile broadband hotspots, wireless routers, customer-premises equipment, and related networking hardware. Inseego also provides cloud-based management and monitoring software intended to help customers deploy, control, and support connected devices and wireless networks.

Inseego serves customers through relationships with mobile network operators, channel partners, and technology providers in North America and international markets.