Inseego (NASDAQ:INSG) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Inseego (NASDAQ:INSG)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.19 and traded as high as $14.33. Inseego shares last traded at $14.14, with a volume of 103,431 shares traded.

Analyst Ratings Changes

Several brokerages have issued reports on INSG. TD Cowen restated a “hold” rating and set a $15.00 price objective (up from $14.00) on shares of Inseego in a research report on Thursday, January 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Inseego in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Inseego presently has a consensus rating of “Hold” and an average price target of $16.50.

Inseego Price Performance

The stock has a 50-day simple moving average of $11.74 and a 200-day simple moving average of $12.19. The stock has a market cap of $229.49 million, a P/E ratio of -74.42 and a beta of 1.30.

Inseego (NASDAQ:INSG) last posted its earnings results on Thursday, February 19th. The technology company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The firm had revenue of $48.40 million for 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, sell-side analysts forecast that Inseego will post -0.06 earnings per share for the current year.

Institutional Trading of Inseego

A number of institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC acquired a new position in shares of Inseego during the fourth quarter valued at about $33,000. BNP Paribas Financial Markets raised its holdings in shares of Inseego by 129.3% during the third quarter. BNP Paribas Financial Markets now owns 2,708 shares of the technology company’s stock valued at $41,000 after purchasing an additional 1,527 shares during the period. Bank of America Corp DE raised its holdings in shares of Inseego by 134.3% during the second quarter. Bank of America Corp DE now owns 5,870 shares of the technology company’s stock valued at $48,000 after purchasing an additional 3,365 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Inseego by 3,087.9% during 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 during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Inseego during the second quarter valued at about $56,000. Institutional investors own 34.20% of the company’s stock.

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.