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

Inseego (NASDAQ:INSG)’s share price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $4.30 and traded as high as $4.57. Inseego shares last traded at $4.54, with a volume of 175,953 shares.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group set a $9.00 price objective on Inseego in a report on Thursday, August 6th. Lake Street Capital set a $12.00 target price on shares of Inseego in a report on Thursday, August 6th. Weiss Ratings lowered shares of Inseego from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday. Roth Capital reiterated a “buy” rating on shares of Inseego in a research report on Friday, August 7th. Finally, Zacks Research raised shares of Inseego from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Inseego has an average rating of “Hold” and a consensus price target of $13.00.

Inseego Trading Up 6.8%

The stock has a fifty day moving average of $4.30 and a two-hundred day moving average of $9.04. The stock has a market capitalization of $83.94 million, a price-to-earnings ratio of -11.64 and a beta of 1.65.

Inseego (NASDAQ:INSG) last issued its quarterly earnings data on Wednesday, November 4th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.06. The business had revenue of $33.26 million during the quarter, compared to the consensus estimate of $31.21 million. Equities analysts expect that Inseego will post -1.39 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. WINTON GROUP Ltd raised its stake 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 during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Inseego during the second quarter valued at approximately $115,000. AXQ Capital LP bought a new stake in shares of Inseego during the second quarter valued at approximately $128,000. Bank of New York Mellon Corp acquired a new stake in shares of Inseego in the second quarter valued at approximately $290,000. Finally, Militia Capital Management LLC bought a new position in Inseego in the 1st quarter worth approximately $518,000. 34.20% of the stock is owned by institutional investors.

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.