Inseego (NASDAQ:INSG) Announces Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Inseego (NASDAQ:INSG) announced its earnings results on Wednesday. The technology company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.06), Zacks reports.

Inseego Stock Performance

Shares of Inseego stock traded down $0.75 on Wednesday, reaching $11.82. 241,779 shares of the company’s stock were exchanged, compared to its average volume of 112,753. The company has a market capitalization of $176.83 million, a P/E ratio of -6.57 and a beta of 1.50. Inseego has a 52 week low of $2.08 and a 52 week high of $20.67. The firm’s 50-day moving average is $11.53 and its two-hundred day moving average is $13.82.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stifel Nicolaus cut their price objective on Inseego from $17.00 to $12.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Roth Mkm upgraded shares of Inseego from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $15.00 in a research report on Thursday, November 14th. Roth Capital raised shares of Inseego from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 14th. Finally, TD Cowen lowered their target price on shares of Inseego from $20.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, November 15th.

About Inseego

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.