Several other equities research analysts have also recently commented on the company. Cowen assumed coverage on Inseego in a report on Friday, May 24th. They set an “outperform” rating and a $8.00 target price on the stock. ValuEngine raised Vermillion from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Finally, National Securities dropped their target price on Aquabounty Technologies from $6.50 to $5.50 and set a “buy” rating on the stock in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $6.07.
Shares of NASDAQ:INSG opened at $5.08 on Wednesday. Inseego has a 12 month low of $1.73 and a 12 month high of $6.00. The company has a market capitalization of $396.82 million, a PE ratio of -42.33 and a beta of 0.46. The business’s 50 day moving average price is $4.72.
Inseego (NASDAQ:INSG) last announced its earnings results on Wednesday, May 8th. The technology company reported ($0.10) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.10). The firm had revenue of $48.56 million for the quarter, compared to the consensus estimate of $47.57 million. As a group, analysts anticipate that Inseego will post -0.25 EPS for the current year.
In related news, Director Brian Miller sold 3,900,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $4.80, for a total transaction of $18,720,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 15.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of INSG. RVW Wealth LLC bought a new position in shares of Inseego in the second quarter valued at $48,000. Chicago Capital LLC bought a new position in shares of Inseego in the second quarter valued at $96,000. Resources Investment Advisors Inc. increased its holdings in shares of Inseego by 54.3% in the first quarter. Resources Investment Advisors Inc. now owns 31,900 shares of the technology company’s stock valued at $151,000 after buying an additional 11,225 shares in the last quarter. WINTON GROUP Ltd increased its holdings in shares of Inseego by 124.8% in the second quarter. WINTON GROUP Ltd now owns 71,245 shares of the technology company’s stock valued at $341,000 after buying an additional 39,555 shares in the last quarter. Finally, Northern Trust Corp increased its holdings 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. 45.02% of the stock is currently owned by institutional investors.
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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