Inseego (NASDAQ:INSG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Inseego (NASDAQ:INSG) from a strong sell rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other research analysts have also recently commented on the stock. Weiss Ratings cut shares of Inseego from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 21st. Zacks Research lowered shares of Inseego from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Roth Capital reaffirmed a “buy” rating on shares of Inseego in a research report on Friday, August 7th. UBS Group set a $9.00 target price on shares of Inseego in a research note on Thursday, August 6th. Finally, Lake Street Capital set a $12.00 price target on Inseego in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.60.

Inseego Price Performance

Shares of NASDAQ INSG opened at $4.18 on Friday. The stock’s 50-day moving average is $5.42 and its two-hundred day moving average is $9.90. The company has a market cap of $68.64 million, a price-to-earnings ratio of 32.16 and a beta of 1.65. Inseego has a 1-year low of $3.93 and a 1-year high of $21.90.

Inseego (NASDAQ:INSG) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $39.90 million. Equities research analysts anticipate that Inseego will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of INSG. Engineers Gate Manager LP acquired a new stake in Inseego during the 2nd quarter worth $115,000. AXQ Capital LP acquired a new position in Inseego in the fourth quarter valued at $125,000. Bank of New York Mellon Corp purchased a new position in shares of Inseego during the second quarter worth about $290,000. WINTON GROUP Ltd grew its holdings in shares of Inseego by 138.3% during the second quarter. WINTON GROUP Ltd now owns 36,387 shares of the technology company’s stock worth $376,000 after purchasing an additional 21,119 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Inseego by 32.7% during the fourth quarter. Larson Financial Group LLC now owns 36,996 shares of the technology company’s stock worth $380,000 after purchasing an additional 9,111 shares in the last quarter. 34.20% of the stock is owned by hedge funds and other institutional investors.

About Inseego

Inseego Corp. (NASDAQ: INSG) develops and supplies wireless broadband solutions for businesses, service providers and other organizations. Its product portfolio includes 4G LTE and 5G mobile hotspots, fixed wireless access devices, indoor and outdoor customer-premises equipment, routers and gateways designed to provide primary or backup internet connectivity.

The company also provides cloud-based management and software tools that help customers deploy, monitor and manage connected devices and wireless networks.