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

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

A number of analysts recently commented on INSG shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inseego in a research note on Monday, December 29th. TD Cowen reissued 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.

Inseego Trading Down 1.3%

Shares of NASDAQ:INSG opened at $14.83 on Friday. The stock has a market capitalization of $240.68 million, a P/E ratio of -78.05 and a beta of 1.30. Inseego has a 12-month low of $6.27 and a 12-month high of $18.11. The stock’s 50-day moving average price is $12.50 and its 200-day moving average price is $12.10.

Inseego (NASDAQ:INSG) last released its quarterly earnings results on Thursday, February 19th. The technology company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. The business had revenue of $48.40 million during the quarter, compared to analyst estimates of $46.89 million. Inseego had a negative return on equity of 13.38% and a net margin of 0.50%. As a group, research analysts predict that Inseego will post -0.21 EPS for the current year.

Hedge Funds Weigh In On Inseego

A number of institutional investors have recently bought and sold shares of INSG. BNP Paribas Financial Markets lifted its holdings in Inseego by 129.3% in the third quarter. BNP Paribas Financial Markets now owns 2,708 shares of the technology company’s stock worth $41,000 after buying an additional 1,527 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Inseego during the 4th quarter worth approximately $33,000. Bank of America Corp DE raised its position in shares of Inseego by 134.3% in the 2nd quarter. Bank of America Corp DE now owns 5,870 shares of the technology company’s stock worth $48,000 after acquiring an additional 3,365 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Inseego by 3,087.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock worth $50,000 after acquiring an additional 5,867 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Inseego in the 2nd quarter valued at approximately $56,000. 34.20% of the stock is owned by institutional investors.

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.