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

Inseego (NASDAQ:INSG) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.33 and traded as high as $12.81. Inseego shares last traded at $11.94, with a volume of 173,089 shares trading hands.

Analysts Set New Price Targets

Several research firms have weighed in on INSG. TD Cowen restated a “hold” rating and set a $15.00 price target (up from $14.00) on shares of Inseego in a report on Thursday, January 15th. Wall Street Zen upgraded shares of Inseego from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Inseego in a research report on Monday, December 29th. Finally, Lake Street Capital initiated coverage on Inseego in a research note on Monday, December 15th. They set a “buy” rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.50.

Inseego Trading Up 2.1%

The business’s 50-day simple moving average is $11.18 and its 200-day simple moving average is $12.33. The company has a market capitalization of $193.67 million, a PE ratio of -62.84 and a beta of 1.18.

Inseego (NASDAQ:INSG) last released its quarterly earnings data on Thursday, February 19th. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.07 by $0.05. Inseego had a net margin of 0.50% and a negative return on equity of 13.38%. The business had revenue of $48.40 million for the quarter, compared to the consensus estimate of $46.89 million. Sell-side analysts forecast that Inseego will post -0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Inseego

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Inseego by 4.6% in the third quarter. Vanguard Group Inc. now owns 663,660 shares of the technology company’s stock worth $9,935,000 after buying an additional 29,236 shares in the last quarter. Royce & Associates LP lifted its position in Inseego by 25.4% during the fourth quarter. Royce & Associates LP now owns 508,000 shares of the technology company’s stock worth $5,217,000 after buying an additional 103,000 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Inseego by 171.9% during the second quarter. Balyasny Asset Management L.P. now owns 502,026 shares of the technology company’s stock worth $4,137,000 after buying an additional 317,401 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Inseego by 209.4% in the fourth quarter. First Eagle Investment Management LLC now owns 435,849 shares of the technology company’s stock valued at $4,476,000 after purchasing an additional 294,999 shares during the period. Finally, Gendell Jeffrey L increased its position in Inseego by 34.6% during the fourth quarter. Gendell Jeffrey L now owns 429,301 shares of the technology company’s stock worth $4,409,000 after purchasing an additional 110,253 shares during the last quarter. 34.20% of the stock is currently owned by institutional investors and hedge funds.

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.