Inseego (NASDAQ:INSG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Inseego (NASDAQ:INSG) has been given an average rating of “Moderate Buy” by the seven brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $14.60.

A number of equities research analysts recently issued reports on the company. Weiss Ratings upgraded Inseego from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. TD Cowen reiterated a “hold” rating and issued a $18.00 price objective (up from $15.00) on shares of Inseego in a report on Wednesday, May 13th. Lake Street Capital set a $12.00 price target on Inseego in a research report on Thursday. UBS Group set a $9.00 target price on shares of Inseego in a research note on Thursday. Finally, Roth Capital reiterated a “buy” rating on shares of Inseego in a report on Friday.

Inseego Price Performance

Shares of NASDAQ INSG opened at $5.51 on Monday. The company has a 50 day simple moving average of $9.15 and a 200 day simple moving average of $11.39. The firm has a market cap of $90.47 million, a PE ratio of 42.39 and a beta of 1.70. Inseego has a 1 year low of $4.77 and a 1 year high of $21.90.

Inseego (NASDAQ:INSG) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $43.98 million during the quarter, compared to the consensus estimate of $39.90 million. Inseego had a negative net margin of 6.41% and a negative return on equity of 13.38%. As a group, research analysts anticipate that Inseego will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of Inseego

Several large investors have recently modified their holdings of INSG. Balyasny Asset Management L.P. grew its stake in Inseego by 171.9% during the second quarter. Balyasny Asset Management L.P. now owns 502,026 shares of the technology company’s stock valued at $4,137,000 after acquiring an additional 317,401 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Inseego by 209.4% during the 4th quarter. First Eagle Investment Management LLC now owns 435,849 shares of the technology company’s stock valued at $4,476,000 after purchasing an additional 294,999 shares during the last quarter. Blue Door Asset Management LLC purchased a new stake in shares of Inseego in the fourth quarter valued at $2,210,000. Geode Capital Management LLC lifted its stake in Inseego by 118.9% in the second quarter. Geode Capital Management LLC now owns 279,787 shares of the technology company’s stock worth $2,306,000 after purchasing an additional 151,970 shares during the last quarter. Finally, Gendell Jeffrey L lifted its position in shares of Inseego by 34.6% during the fourth quarter. Gendell Jeffrey L now owns 429,301 shares of the technology company’s stock worth $4,409,000 after purchasing an additional 110,253 shares during the last quarter. Institutional investors own 34.20% of the company’s stock.

About Inseego

Inseego Corp is a U.S.-based technology company specializing in 5G and intelligent Internet of Things (IoT) device-to-cloud solutions. The company develops hardware and software platforms designed to connect devices, vehicles and remote locations to high-speed wireless networks. Its core offerings include mobile hotspots, fixed wireless access gateways and ruggedized routers optimized for enterprise, industrial and government applications.

Inseego’s product portfolio encompasses 5G MiFi® mobile hotspots, virtual network functions (VNFs) for network management, telematics devices for fleet tracking and asset monitoring, as well as a suite of cloud-native software for device lifecycle management and data analytics.