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

Inseego (NASDAQ:INSG) has received an average recommendation of “Hold” from the five research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $18.50.

Several analysts have recently weighed in on the company. TD Cowen reissued a “hold” rating and set a $18.00 price objective (up from $15.00) on shares of Inseego in a report on Wednesday, May 13th. Lake Street Capital reaffirmed a “buy” rating and set a $22.00 price objective on shares of Inseego in a report on Friday, May 1st. Finally, Weiss Ratings raised shares of Inseego from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 11th.

Hedge Funds Weigh In On Inseego

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd raised its holdings in shares of Inseego by 23.6% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 19,313 shares of the technology company’s stock worth $158,000 after buying an additional 3,685 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Inseego by 118.9% in the 2nd quarter. Geode Capital Management LLC now owns 279,787 shares of the technology company’s stock worth $2,306,000 after buying an additional 151,970 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Inseego by 3,087.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock worth $50,000 after buying an additional 5,867 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Inseego in the 2nd quarter worth approximately $89,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Inseego in the 2nd quarter worth approximately $101,000. 34.20% of the stock is owned by institutional investors.

Inseego Stock Performance

NASDAQ:INSG opened at $12.66 on Wednesday. Inseego has a 52-week low of $6.27 and a 52-week high of $21.90. The company has a market cap of $206.10 million, a price-to-earnings ratio of 20.42 and a beta of 1.76. The firm’s 50-day moving average is $13.57 and its 200-day moving average is $12.17.

Inseego (NASDAQ:INSG) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.09. Inseego had a negative return on equity of 13.38% and a negative net margin of 1.26%.The company had revenue of $34.34 million for the quarter, compared to analyst estimates of $34.53 million. Equities analysts predict that Inseego will post -0.21 EPS for the current year.

Inseego Company Profile

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.