Inseego (NASDAQ:INSG) Receives $16.50 Average Target Price from Analysts

Shares of Inseego (NASDAQ:INSG) have been given an average rating of “Hold” by the five ratings firms that are presently 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 assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $16.50.

Several brokerages have recently weighed in on INSG. Wall Street Zen raised Inseego from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. TD Cowen reissued a “hold” rating and set a $15.00 target price (up previously from $14.00) on shares of Inseego in a research report on Thursday, January 15th. Stifel Nicolaus set a $14.00 price target on shares of Inseego and gave the stock a “hold” rating in a report on Friday, October 17th. Lake Street Capital began coverage on shares of Inseego in a research note on Monday, December 15th. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Inseego in a research report on Monday, December 29th.

Inseego Stock Performance

Shares of NASDAQ:INSG opened at $10.49 on Monday. Inseego has a 52 week low of $6.24 and a 52 week high of $18.11. The firm has a market cap of $160.81 million, a PE ratio of -40.35 and a beta of 1.18. The firm’s fifty day moving average is $10.98 and its 200-day moving average is $11.85.

Institutional Investors Weigh In On Inseego

Several institutional investors and hedge funds have recently made changes to their positions in INSG. Dynamic Technology Lab Private Ltd increased its holdings in Inseego by 23.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 19,313 shares of the technology company’s stock worth $158,000 after purchasing an additional 3,685 shares in the last quarter. Wolverine Asset Management LLC lifted its position in shares of Inseego by 5.0% during the 2nd quarter. Wolverine Asset Management LLC now owns 325,136 shares of the technology company’s stock valued at $2,679,000 after acquiring an additional 15,630 shares during the period. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 151,970 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in Inseego in the second quarter worth $28,000. Finally, JPMorgan Chase & Co. increased its stake in Inseego by 3,087.9% in the second quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock valued at $50,000 after purchasing an additional 5,867 shares in the last quarter. Institutional investors own 34.20% of the company’s stock.

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.