Several other research firms have also issued reports on INSG. BidaskClub raised Inseego from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. Northland Securities reaffirmed a “buy” rating and issued a $6.00 price target on shares of Inseego in a research report on Friday, March 1st. Zacks Investment Research lowered Inseego from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Finally, National Securities started coverage on Inseego in a report on Wednesday, March 20th. They issued a “buy” rating and a $6.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $5.75.
Shares of INSG traded up $0.26 during trading hours on Wednesday, hitting $5.00. The company had a trading volume of 1,185,071 shares, compared to its average volume of 876,004. The firm has a market cap of $393.67 million, a PE ratio of -41.67 and a beta of 0.59. Inseego has a 52-week low of $1.73 and a 52-week high of $6.00.
Inseego (NASDAQ:INSG) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). The company had revenue of $48.56 million during the quarter, compared to analysts’ expectations of $47.57 million. As a group, equities analysts anticipate that Inseego will post -0.22 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. purchased a new stake in shares of Inseego during the 1st quarter worth approximately $30,000. Morgan Stanley raised its holdings in shares of Inseego by 339.6% during the 1st quarter. Morgan Stanley now owns 90,273 shares of the technology company’s stock worth $426,000 after acquiring an additional 69,736 shares in the last quarter. ExodusPoint Capital Management LP raised its holdings in shares of Inseego by 188.2% during the 1st quarter. ExodusPoint Capital Management LP now owns 114,623 shares of the technology company’s stock worth $541,000 after acquiring an additional 74,854 shares in the last quarter. Ellington Management Group LLC purchased a new stake in shares of Inseego during the 1st quarter worth approximately $217,000. Finally, Cannell Capital LLC raised its holdings in shares of Inseego by 24.5% during the 1st quarter. Cannell Capital LLC now owns 1,942,986 shares of the technology company’s stock worth $9,171,000 after acquiring an additional 382,214 shares in the last quarter. Institutional investors own 41.41% of the company’s stock.
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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