Wall Street brokerages forecast that Inseego Corp (NASDAQ:INSG) will post ($0.03) earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Inseego’s earnings. Inseego also posted earnings of ($0.03) per share in the same quarter last year. The company is scheduled to announce its next earnings report after the market closes on Wednesday, May 8th.
On average, analysts expect that Inseego will report full-year earnings of $0.05 per share for the current year, with EPS estimates ranging from $0.03 to $0.06. For the next year, analysts anticipate that the firm will report earnings of $0.29 per share, with EPS estimates ranging from $0.25 to $0.32. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Inseego.
Inseego (NASDAQ:INSG) last released its quarterly earnings results on Thursday, March 7th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.01. The company had revenue of $56.04 million during the quarter, compared to the consensus estimate of $53.39 million.
A number of research firms recently issued reports on INSG. BidaskClub downgraded shares of Inseego from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 18th. ValuEngine raised shares of Inseego from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 4th. National Securities began coverage on shares of Inseego in a research note on Wednesday, March 20th. They issued a “buy” rating and a $6.00 price target for the company. Zacks Investment Research downgraded shares of Inseego from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. Finally, Northland Securities reissued a “buy” rating and issued a $6.00 price target on shares of Inseego in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $5.75.
Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its stake in shares of Inseego by 4.2% during the fourth quarter. Northern Trust Corp now owns 122,361 shares of the technology company’s stock valued at $508,000 after purchasing an additional 4,879 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Inseego by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 393,227 shares of the technology company’s stock valued at $1,631,000 after purchasing an additional 14,046 shares in the last quarter. Resources Investment Advisors Inc. bought a new position in shares of Inseego during the fourth quarter valued at approximately $86,000. PEAK6 Investments LLC increased its stake in shares of Inseego by 103.3% during the fourth quarter. PEAK6 Investments LLC now owns 56,132 shares of the technology company’s stock valued at $233,000 after purchasing an additional 28,528 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Inseego during the third quarter valued at approximately $134,000. 42.17% of the stock is owned by institutional investors.
INSG stock traded up $0.09 during trading on Friday, reaching $4.54. The company had a trading volume of 431,492 shares, compared to its average volume of 898,275. Inseego has a 52 week low of $1.65 and a 52 week high of $6.00. The company has a market cap of $333.54 million, a P/E ratio of -37.83 and a beta of 0.64.
Inseego Corp. engages in the design and development of mobile, Internet of Things (IoT), and cloud solutions for large enterprise verticals, service providers, and small and medium-sized businesses worldwide. The company provides wireless 3G, 4G, and 5G hardware products that address various markets, including fleet and commercial telematics, aftermarket telematics, smart city infrastructure management, remote monitoring and control, wireless surveillance systems, security and connected home and fixed wireless access, and mobile broadband devices.
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