Analysts Set Inseego (NASDAQ:INSG) PT at $16.50

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

INSG has been the topic of several research analyst reports. TD Cowen reissued a “hold” rating and issued a $15.00 target price (up from $14.00) on shares of Inseego in a report on Thursday, January 15th. Lake Street Capital began coverage on shares of Inseego in a report on Monday, December 15th. They issued a “buy” rating and a $17.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Inseego in a research note on Monday, December 29th.

Inseego Stock Up 3.6%

Shares of INSG opened at $12.09 on Tuesday. The business has a 50-day simple moving average of $11.33 and a two-hundred day simple moving average of $12.22. Inseego has a 52 week low of $6.24 and a 52 week high of $18.11. The stock has a market cap of $196.22 million, a price-to-earnings ratio of -63.63 and a beta of 1.30.

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

Institutional Trading of Inseego

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Inseego by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 663,660 shares of the technology company’s stock worth $9,935,000 after acquiring an additional 29,236 shares during the last quarter. Royce & Associates LP raised its position in Inseego by 25.4% in the 4th quarter. Royce & Associates LP now owns 508,000 shares of the technology company’s stock worth $5,217,000 after purchasing an additional 103,000 shares during the period. Balyasny Asset Management L.P. raised its position in Inseego by 171.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 502,026 shares of the technology company’s stock worth $4,137,000 after purchasing an additional 317,401 shares during the period. First Eagle Investment Management LLC lifted its stake in Inseego by 209.4% in the fourth quarter. First Eagle Investment Management LLC now owns 435,849 shares of the technology company’s stock worth $4,476,000 after purchasing an additional 294,999 shares during the last quarter. Finally, Gendell Jeffrey L lifted its stake in Inseego by 34.6% in 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 owned by hedge funds and other 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.