Shares of Inseego Corp (NASDAQ:INSG) shot up 7.2% on Tuesday . The company traded as high as $4.75 and last traded at $4.74. 990,840 shares were traded during trading, an increase of 14% from the average session volume of 872,482 shares. The stock had previously closed at $4.42.
A number of research firms have recently weighed in on INSG. BidaskClub raised shares of Inseego from a “strong sell” rating to a “sell” rating in a research report on Tuesday. ValuEngine raised shares of Inseego from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Northland Securities reissued a “buy” rating and set a $6.00 price target on shares of Inseego in a research report on Friday, March 1st. National Securities began coverage on shares of Inseego in a research report on Wednesday, March 20th. They set a “buy” rating and a $6.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Inseego from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $5.75.
The firm has a market capitalization of $393.67 million, a P/E ratio of -41.83 and a beta of 0.59.
Inseego (NASDAQ:INSG) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). The business had revenue of $48.56 million during the quarter, compared to analyst estimates of $47.57 million. Analysts anticipate that Inseego Corp will post -0.22 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in INSG. Cannell Capital LLC acquired a new position in Inseego in the fourth quarter worth $6,477,000. JPMorgan Chase & Co. boosted its holdings in Inseego by 1,187.4% in the third quarter. JPMorgan Chase & Co. now owns 818,297 shares of the technology company’s stock worth $3,150,000 after purchasing an additional 754,733 shares during the period. Renaissance Technologies LLC boosted its holdings in Inseego by 36.3% in the first quarter. Renaissance Technologies LLC now owns 2,358,800 shares of the technology company’s stock worth $11,134,000 after purchasing an additional 628,500 shares during the period. Vanguard Group Inc boosted its holdings in Inseego by 39.8% in the third quarter. Vanguard Group Inc now owns 1,854,954 shares of the technology company’s stock worth $7,142,000 after purchasing an additional 528,331 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Inseego by 39.8% in the third quarter. Vanguard Group Inc. now owns 1,854,954 shares of the technology company’s stock worth $7,142,000 after purchasing an additional 528,331 shares during the period. 41.41% of the stock is owned by hedge funds and other institutional investors.
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Inseego Company Profile (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.
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