Inseego (NASDAQ:INSG) Share Price Crosses Above 200 Day Moving Average of $2.72

Inseego Corp. (NASDAQ:INSG)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.72 and traded as high as $3.10. Inseego shares last traded at $3.05, with a volume of 33,795 shares trading hands.

Analyst Upgrades and Downgrades

Separately, TD Cowen boosted their price target on Inseego from $2.50 to $3.50 and gave the company a “market perform” rating in a research note on Wednesday, March 13th.

Inseego Stock Performance

The company has a 50 day simple moving average of $2.84 and a two-hundred day simple moving average of $2.72. The firm has a market cap of $36.23 million, a PE ratio of -0.73 and a beta of 1.33.

Inseego (NASDAQ:INSG) last posted its quarterly earnings results on Wednesday, February 21st. The technology company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.48). The business had revenue of $42.75 million during the quarter, compared to analyst estimates of $40.57 million. As a group, research analysts predict that Inseego Corp. will post -2.24 earnings per share for the current fiscal year.

Institutional Trading of Inseego

Hedge funds have recently modified their holdings of the stock. Stratos Wealth Partners LTD. boosted its stake in shares of Inseego by 14.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 207,972 shares of the technology company’s stock worth $46,000 after buying an additional 26,850 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Inseego by 16.4% in the third quarter. GSA Capital Partners LLP now owns 1,602,866 shares of the technology company’s stock worth $673,000 after buying an additional 225,340 shares during the last quarter. Simplicity Solutions LLC purchased a new stake in shares of Inseego in the fourth quarter worth about $1,674,000. Finally, Braslyn Ltd. purchased a new stake in shares of Inseego in the fourth quarter worth about $1,675,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.

About Inseego

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.