TD Cowen Boosts Inseego (NASDAQ:INSG) Price Target to $12.00

Inseego (NASDAQ:INSG) had its price objective boosted by TD Cowen from $3.50 to $12.00 in a report published on Monday morning, Benzinga reports. The firm currently has a hold rating on the technology company’s stock.

Inseego Stock Performance

Inseego stock opened at $6.74 on Monday. The company has a 50-day simple moving average of $3.58 and a 200-day simple moving average of $2.86. The firm has a market capitalization of $80.09 million, a P/E ratio of -1.64 and a beta of 1.18. Inseego has a one year low of $1.62 and a one year high of $11.50.

Inseego (NASDAQ:INSG) last announced its earnings results on Thursday, May 9th. The technology company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The company had revenue of $45.01 million during the quarter, compared to the consensus estimate of $41.40 million. During the same quarter in the prior year, the company earned ($0.50) EPS. As a group, sell-side analysts forecast that Inseego will post -2.24 earnings per share for the current year.

Hedge Funds Weigh In On Inseego

Large investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. boosted its position in shares of Inseego by 14.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 207,972 shares of the technology company’s stock valued at $46,000 after purchasing an additional 26,850 shares in the last quarter. Simplicity Wealth LLC bought a new position in shares of Inseego during the 1st quarter valued at about $2,132,000. GSA Capital Partners LLP boosted its position in shares of Inseego by 16.4% during the 3rd quarter. GSA Capital Partners LLP now owns 1,602,866 shares of the technology company’s stock valued at $673,000 after purchasing an additional 225,340 shares in the last quarter. Braslyn Ltd. bought a new position in shares of Inseego during the 4th quarter valued at about $1,675,000. Finally, Simplicity Solutions LLC bought a new position in shares of Inseego during the 4th quarter valued at about $1,674,000. Institutional investors own 34.20% of the company’s stock.

Inseego Company Profile

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.