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

Inseego (NASDAQ:INSG) has received a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $14.60.

Several equities analysts recently commented on the company. UBS Group set a $9.00 price target on Inseego in a report on Thursday, August 6th. TD Cowen reaffirmed a “hold” rating and issued a $18.00 price objective (up from $15.00) on shares of Inseego in a research report on Wednesday, May 13th. Lake Street Capital set a $12.00 price objective on shares of Inseego in a research note on Thursday, August 6th. Weiss Ratings cut shares of Inseego from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Finally, Roth Capital restated a “buy” rating on shares of Inseego in a research note on Friday, August 7th.

Hedge Funds Weigh In On Inseego

Institutional investors have recently added to or reduced their stakes in the company. AXQ Capital LP purchased a new position in Inseego in the 2nd quarter valued at about $128,000. Bank of New York Mellon Corp acquired a new position in shares of Inseego in the second quarter worth about $290,000. Militia Capital Management LLC acquired a new position in shares of Inseego in the first quarter worth about $518,000. Renaissance Technologies LLC lifted its stake in shares of Inseego by 64.7% in the first quarter. Renaissance Technologies LLC now owns 118,317 shares of the technology company’s stock worth $1,316,000 after acquiring an additional 46,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Inseego by 25.7% in the first quarter. Dimensional Fund Advisors LP now owns 129,235 shares of the technology company’s stock valued at $1,436,000 after purchasing an additional 26,423 shares during the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

Inseego Price Performance

NASDAQ:INSG opened at $4.40 on Friday. The business’s 50-day moving average is $7.16 and its two-hundred day moving average is $10.76. The firm has a market capitalization of $72.25 million, a PE ratio of 33.85 and a beta of 1.70. Inseego has a 12 month low of $3.93 and a 12 month high of $21.90.

Inseego (NASDAQ:INSG) last issued its earnings results on Wednesday, August 5th. The technology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Inseego had a negative return on equity of 13.38% and a negative net margin of 6.41%.The company had revenue of $43.98 million during the quarter, compared to analysts’ expectations of $39.90 million. Equities analysts anticipate that Inseego will post -1.39 EPS for the current year.

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.