Inseego (NASDAQ:INSG) Earns “Buy” Rating from Northland Securities

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Northland Securities reaffirmed their buy rating on shares of Inseego (NASDAQ:INSG) in a research note issued to investors on Thursday, AnalystRatings.com reports. They currently have a $6.00 price target on the technology company’s stock.

A number of other research firms have also weighed in on INSG. Zacks Investment Research upgraded shares of Inseego from a strong sell rating to a hold rating in a report on Wednesday, October 9th. BidaskClub lowered shares of Inseego from a buy rating to a hold rating in a report on Thursday. Canaccord Genuity increased their target price on shares of Inseego from $7.00 to $8.50 and gave the stock a buy rating in a report on Monday, October 28th. National Securities reiterated a buy rating and set a $5.50 target price on shares of Inseego in a report on Wednesday, August 7th. Finally, ValuEngine upgraded shares of Inseego from a hold rating to a buy rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $6.50.

NASDAQ:INSG traded down $0.03 during midday trading on Thursday, hitting $4.73. The company had a trading volume of 1,561,800 shares, compared to its average volume of 1,033,808. The stock’s fifty day moving average price is $5.11 and its 200-day moving average price is $4.77. The company has a market capitalization of $428.72 million, a PE ratio of -39.42 and a beta of 0.74. Inseego has a 52-week low of $3.48 and a 52-week high of $6.00.

Inseego (NASDAQ:INSG) last posted its earnings results on Wednesday, November 6th. The technology company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.08. The firm had revenue of $62.72 million for the quarter, compared to analysts’ expectations of $59.77 million. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.10) earnings per share. On average, sell-side analysts predict that Inseego will post -0.44 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its stake in Inseego by 71.2% in the second quarter. Advisory Services Network LLC now owns 10,820 shares of the technology company’s stock worth $52,000 after buying an additional 4,500 shares in the last quarter. FNY Investment Advisers LLC raised its stake in Inseego by 87.5% in the third quarter. FNY Investment Advisers LLC now owns 51,572 shares of the technology company’s stock worth $247,000 after buying an additional 24,072 shares in the last quarter. Northern Trust Corp raised its stake in Inseego by 30.9% in the second quarter. Northern Trust Corp now owns 159,290 shares of the technology company’s stock worth $763,000 after buying an additional 37,587 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in Inseego by 132.4% in the second quarter. Cubist Systematic Strategies LLC now owns 73,404 shares of the technology company’s stock worth $352,000 after buying an additional 41,824 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in Inseego by 41.1% in the second quarter. Private Advisor Group LLC now owns 22,407 shares of the technology company’s stock worth $107,000 after buying an additional 6,530 shares in the last quarter. 48.04% of the stock is owned by institutional investors.

About Inseego

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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Analyst Recommendations for Inseego (NASDAQ:INSG)

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