Inseego (NASDAQ:INSG) Given Average Rating of “Hold” by Analysts

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

Several brokerages recently weighed in on INSG. TD Cowen reaffirmed 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. Lake Street Capital restated a “buy” rating and issued a $22.00 price objective on shares of Inseego in a research report on Friday, May 1st. Finally, Weiss Ratings raised Inseego from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 11th.

Inseego Trading Up 1.0%

Inseego stock opened at $8.26 on Thursday. Inseego has a 12-month low of $6.27 and a 12-month high of $21.90. The firm has a market capitalization of $134.47 million, a price-to-earnings ratio of 13.32 and a beta of 1.65. The firm has a 50 day moving average of $12.33 and a 200 day moving average of $11.92.

Inseego (NASDAQ:INSG) last issued its quarterly earnings results on Friday, May 8th. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.09. The business had revenue of $34.34 million for the quarter, compared to the consensus estimate of $34.53 million. Inseego had a negative net margin of 1.26% and a negative return on equity of 13.38%. On average, analysts predict that Inseego will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC raised its position in shares of Inseego by 209.4% during 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 buying an additional 294,999 shares during the last quarter. Royce & Associates LP boosted its position in shares of 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 acquiring an additional 103,000 shares during the last quarter. Gendell Jeffrey L grew its stake in Inseego by 34.6% during the fourth quarter. Gendell Jeffrey L now owns 429,301 shares of the technology company’s stock valued at $4,409,000 after acquiring an additional 110,253 shares in the last quarter. Geode Capital Management LLC grew its stake in Inseego by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 280,652 shares of the technology company’s stock valued at $2,883,000 after acquiring an additional 4,845 shares in the last quarter. Finally, State Street Corp increased its holdings in Inseego by 28.2% in the 4th quarter. State Street Corp now owns 190,206 shares of the technology company’s stock valued at $1,953,000 after acquiring an additional 41,802 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.