Inseego (NASDAQ:INSG) Stock Breaks Above 50 Day Moving Average – Time to Sell?

Inseego (NASDAQ:INSG)’s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $4.26 and traded as high as $4.51. Inseego shares last traded at $4.43, with a volume of 150,876 shares changing hands.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Zacks Research upgraded shares of Inseego from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 6th. Roth Capital reiterated a “buy” rating on shares of Inseego in a research note on Friday, August 7th. UBS Group set a $9.00 price objective on Inseego in a research note on Thursday, August 6th. Wall Street Zen downgraded shares of Inseego from a “sell” rating to a “strong sell” rating in a report on Saturday, October 3rd. Finally, Weiss Ratings downgraded Inseego from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.00.

Inseego Price Performance

The company has a market capitalization of $84.24 million, a price-to-earnings ratio of 39.46 and a beta of 1.61. The business has a fifty day moving average price of $4.28 and a 200 day moving average price of $9.39.

Inseego (NASDAQ:INSG) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The business had revenue of $43.98 million for the quarter, compared to the consensus estimate of $39.90 million. As a group, sell-side analysts predict that Inseego will post -1.39 earnings per share for the current fiscal year.

Institutional Trading of Inseego

Several large investors have recently made changes to their positions in INSG. Engineers Gate Manager LP acquired a new position in Inseego in the second quarter valued at approximately $115,000. WINTON GROUP Ltd increased its holdings in shares of Inseego by 138.3% in the second quarter. WINTON GROUP Ltd now owns 36,387 shares of the technology company’s stock worth $376,000 after acquiring an additional 21,119 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Inseego during the 2nd quarter worth approximately $290,000. AXQ Capital LP acquired a new stake in shares of Inseego during the second quarter worth $128,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Inseego by 25.7% in the 1st 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 period. Institutional investors own 34.20% of the company’s stock.

About Inseego

Inseego Corp. develops wireless broadband and mobile networking solutions for service providers, enterprises, small businesses, government organizations and consumers. The company focuses on connecting devices, locations and users through cellular networks, with an emphasis on 5G and other high-speed wireless technologies.

Its product portfolio includes mobile hotspots, fixed wireless access equipment, indoor and outdoor customer-premises equipment, routers and gateways. Inseego also provides cloud-based device management and networking software designed to help customers provision, monitor and manage connected equipment.