Inseego (NASDAQ:INSG) Receives Average Rating of “Hold” from Analysts

Inseego (NASDAQ:INSG) has received an average rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $18.50.

Several research analysts have recently commented on the company. Lake Street Capital reissued a “buy” rating and issued a $22.00 target price on shares of Inseego in a report on Friday, May 1st. TD Cowen reissued a “hold” rating and issued a $18.00 target price (up from $15.00) on shares of Inseego in a report on Wednesday, May 13th. Finally, Weiss Ratings raised Inseego from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 11th.

Inseego Stock Performance

INSG opened at $12.66 on Wednesday. The firm’s 50-day simple moving average is $13.57 and its 200-day simple moving average is $12.17. Inseego has a twelve month low of $6.27 and a twelve month high of $21.90. The firm has a market cap of $206.10 million, a price-to-earnings ratio of 20.42 and a beta of 1.76.

Inseego (NASDAQ:INSG) last posted its earnings results on Thursday, May 7th. The technology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.09. Inseego had a negative net margin of 1.26% and a negative return on equity of 13.38%. The business had revenue of $34.34 million for the quarter, compared to analyst estimates of $34.53 million. As a group, sell-side analysts anticipate that Inseego will post -0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its holdings in shares of Inseego by 129.3% in the third quarter. BNP Paribas Financial Markets now owns 2,708 shares of the technology company’s stock valued at $41,000 after buying an additional 1,527 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Inseego by 5.5% in the third quarter. Stratos Wealth Partners LTD. now owns 32,375 shares of the technology company’s stock valued at $485,000 after buying an additional 1,700 shares during the last quarter. Barclays PLC raised its holdings in shares of Inseego by 11.9% in the fourth quarter. Barclays PLC now owns 19,593 shares of the technology company’s stock valued at $201,000 after buying an additional 2,080 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Inseego by 8.1% in the first quarter. Bank of New York Mellon Corp now owns 30,076 shares of the technology company’s stock valued at $334,000 after buying an additional 2,246 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Inseego in the fourth quarter valued at approximately $33,000. 34.20% of the stock is owned by institutional investors.

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.