Inseego Corp (NASDAQ:INSG)’s stock price fell 5.1% during mid-day trading on Friday . The company traded as low as $3.70 and last traded at $3.71, 1,049,445 shares traded hands during trading. An increase of 2% from the average session volume of 1,029,693 shares. The stock had previously closed at $3.91.
Several analysts have weighed in on INSG shares. ValuEngine raised Inseego from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 15th. Canaccord Genuity set a $7.00 target price on Inseego and gave the company a “buy” rating in a research note on Wednesday, August 7th. National Securities reiterated a “buy” rating and set a $5.50 price target on shares of Inseego in a research note on Wednesday, August 7th. Zacks Investment Research cut Inseego from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Finally, Cowen assumed coverage on Inseego in a report on Friday, May 24th. They issued an “outperform” rating and a $8.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $6.07.
The firm’s fifty day moving average price is $4.70 and its two-hundred day moving average price is $4.81. The stock has a market cap of $295.09 million, a price-to-earnings ratio of -30.92 and a beta of 0.45.
Inseego (NASDAQ:INSG) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.06). The company had revenue of $55.89 million for the quarter, compared to the consensus estimate of $53.11 million. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.11) earnings per share. On average, equities research analysts expect that Inseego Corp will post -0.44 EPS for the current year.
In other Inseego news, Director Brian Miller sold 3,900,000 shares of Inseego stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $4.80, for a total value of $18,720,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Inseego by 4.3% in the fourth quarter. BlackRock Inc. now owns 1,095,441 shares of the technology company’s stock valued at $4,545,000 after purchasing an additional 45,008 shares in the last quarter. Northern Trust Corp increased its position in shares of Inseego by 4.2% in the fourth quarter. Northern Trust Corp now owns 122,361 shares of the technology company’s stock valued at $508,000 after buying an additional 4,879 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Inseego by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 393,227 shares of the technology company’s stock valued at $1,631,000 after buying an additional 14,046 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Inseego by 243.5% during the fourth quarter. Millennium Management LLC now owns 292,900 shares of the technology company’s stock valued at $1,216,000 after acquiring an additional 207,634 shares during the last quarter. Finally, Laurion Capital Management LP boosted its stake in shares of Inseego by 320.8% during the first quarter. Laurion Capital Management LP now owns 497,686 shares of the technology company’s stock valued at $2,349,000 after acquiring an additional 379,427 shares during the last quarter. Institutional investors and hedge funds own 45.75% of the company’s stock.
About Inseego (NASDAQ:INSG)
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.
Read More: What is a front-end load?
Receive News & Ratings for Inseego Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inseego and related companies with MarketBeat.com's FREE daily email newsletter.