Inseego (NASDAQ:INSG) Receives $16.50 Consensus PT from Brokerages

Shares of Inseego (NASDAQ:INSG) have earned a consensus rating of “Hold” from the five brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $16.50.

A number of research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Inseego in a report on Monday, December 29th. Wall Street Zen raised shares of Inseego from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Lake Street Capital initiated 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, TD Cowen reiterated a “hold” rating and issued a $15.00 price objective (up from $14.00) on shares of Inseego in a report on Thursday, January 15th.

Inseego Stock Down 2.0%

Shares of NASDAQ:INSG opened at $11.07 on Friday. The company’s 50-day moving average price is $11.05 and its 200 day moving average price is $12.32. The company has a market cap of $179.56 million, a PE ratio of -58.26 and a beta of 1.18. Inseego has a fifty-two week low of $6.24 and a fifty-two week high of $18.11.

Inseego (NASDAQ:INSG) last posted its earnings results on Thursday, February 19th. The technology company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05. The firm had revenue of $48.40 million during the quarter, compared to analysts’ expectations of $46.89 million. Inseego had a net margin of 0.50% and a negative return on equity of 13.38%. As a group, equities analysts anticipate that Inseego will post -0.06 EPS for the current year.

Hedge Funds Weigh In On Inseego

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INSG. Dynamic Technology Lab Private Ltd raised its stake in shares of Inseego by 23.6% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 19,313 shares of the technology company’s stock worth $158,000 after buying an additional 3,685 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in Inseego in the second quarter worth about $28,000. JPMorgan Chase & Co. lifted its holdings in Inseego by 3,087.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock valued at $50,000 after acquiring an additional 5,867 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Inseego in the 2nd quarter valued at about $89,000. 34.20% of the stock is 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.