Inseego (NASDAQ:INSG) Announces Earnings Results

Inseego (NASDAQ:INSG) posted its earnings results on Tuesday. The technology company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.20), reports. The business had revenue of $54.03 million for the quarter, compared to analysts’ expectations of $56.30 million. Inseego updated its Q4 2024 guidance to EPS.

Inseego Price Performance

NASDAQ INSG opened at $12.60 on Thursday. Inseego has a 12 month low of $1.62 and a 12 month high of $20.67. The firm has a market capitalization of $154.73 million, a PE ratio of -6.02 and a beta of 1.60. The company’s 50 day simple moving average is $17.59 and its 200 day simple moving average is $12.25.

Institutional Trading of Inseego

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd bought a new stake in shares of Inseego in the 3rd quarter worth approximately $32,000. Olympiad Research LP acquired a new position in Inseego in the third quarter worth approximately $184,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Inseego in the third quarter valued at $353,000. Renaissance Technologies LLC acquired a new stake in shares of Inseego during the 2nd quarter valued at $274,000. Finally, Marshall Wace LLP acquired a new stake in shares of Inseego during the 2nd quarter valued at $833,000. Institutional investors own 34.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Inseego from $11.00 to $17.00 and gave the stock a “hold” rating in a report on Tuesday, September 17th. Roth Mkm raised Inseego from a “neutral” rating to a “buy” rating and increased their price target for the stock from $13.00 to $15.00 in a research note on Thursday. Finally, TD Cowen raised their price target on Inseego from $13.50 to $15.00 and gave the company a “hold” rating in a report on Wednesday, August 14th.

Inseego Company Profile

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.