Inseego (NASDAQ:INSG) Given New $15.00 Price Target at TD Cowen

Inseego (NASDAQ:INSG) had its price objective upped by TD Cowen from $14.00 to $15.00 in a research note published on Thursday morning,Benzinga reports. They currently have a hold rating on the technology company’s stock.

INSG has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inseego in a report on Monday, December 29th. Cowen reissued a “hold” rating on shares of Inseego in a research report on Thursday. Wall Street Zen upgraded shares of Inseego from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Lake Street Capital began coverage on shares of Inseego in a research report on Monday, December 15th. They set a “buy” rating and a $17.00 price target on the stock. Finally, Craig Hallum set a $20.00 price objective on Inseego and gave the company a “buy” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.50.

Inseego Stock Performance

Shares of NASDAQ:INSG opened at $11.68 on Thursday. Inseego has a one year low of $6.24 and a one year high of $18.11. The business’s 50-day simple moving average is $11.04 and its 200 day simple moving average is $11.40. The company has a market cap of $179.05 million, a P/E ratio of -44.92 and a beta of 1.14.

Inseego (NASDAQ:INSG) last released its quarterly earnings results on Friday, November 7th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.16). Inseego had a negative return on equity of 8.87% and a negative net margin of 0.12%.The business had revenue of $45.89 million during the quarter, compared to analyst estimates of $41.86 million. Analysts predict that Inseego will post -0.06 earnings per share for the current year.

Institutional Trading of Inseego

Hedge funds have recently bought and sold shares of the company. Royce & Associates LP acquired a new position in Inseego during the 3rd quarter valued at about $6,063,000. Balyasny Asset Management L.P. raised its holdings in shares of Inseego by 171.9% during the second quarter. Balyasny Asset Management L.P. now owns 502,026 shares of the technology company’s stock valued at $4,137,000 after buying an additional 317,401 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Inseego by 118.9% during the second quarter. Geode Capital Management LLC now owns 279,787 shares of the technology company’s stock worth $2,306,000 after buying an additional 151,970 shares during the period. First Eagle Investment Management LLC acquired a new position in shares of Inseego during the third quarter worth approximately $2,109,000. Finally, UBS Group AG raised its stake in Inseego by 134.9% during the 3rd quarter. UBS Group AG now owns 126,145 shares of the technology company’s stock valued at $1,888,000 after acquiring an additional 72,452 shares in the last quarter. 34.20% of the stock is currently owned by institutional investors.

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.