Inseego (NASDAQ:INSG) Upgraded at Zacks Research

Zacks Research upgraded shares of Inseego (NASDAQ:INSG) from a strong sell rating to a hold rating in a research report report published on Tuesday morning,Zacks reports.

INSG has been the topic of a number of other reports. Weiss Ratings lowered Inseego from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Roth Capital reaffirmed a “buy” rating on shares of Inseego in a research note on Friday, August 7th. Lake Street Capital set a $12.00 price objective on Inseego in a research note on Thursday, August 6th. UBS Group set a $9.00 price objective on shares of Inseego in a report on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Inseego from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 3rd. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.25.

Inseego Stock Performance

Shares of NASDAQ:INSG opened at $4.46 on Tuesday. The company has a fifty day moving average of $4.62 and a 200-day moving average of $9.22. The company has a market capitalization of $73.23 million, a PE ratio of 34.31 and a beta of 1.61. Inseego has a 52-week low of $3.58 and a 52-week high of $21.90.

Inseego (NASDAQ:INSG) last released its quarterly earnings data 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. On average, equities analysts forecast that Inseego will post -1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Inseego

Several institutional investors and hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd lifted its stake in shares of Inseego by 138.3% in the second quarter. WINTON GROUP Ltd now owns 36,387 shares of the technology company’s stock worth $376,000 after acquiring an additional 21,119 shares during the period. Engineers Gate Manager LP acquired a new stake in Inseego during the 2nd quarter valued at approximately $115,000. Bank of New York Mellon Corp acquired a new stake in Inseego during the 2nd quarter valued at approximately $290,000. AXQ Capital LP bought a new position in Inseego during the 2nd quarter worth approximately $128,000. Finally, Renaissance Technologies LLC raised its holdings in Inseego by 64.7% during the 1st quarter. Renaissance Technologies LLC now owns 118,317 shares of the technology company’s stock worth $1,316,000 after purchasing an additional 46,500 shares during the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

Inseego Company Profile

Inseego Corp. (NASDAQ: INSG) develops wireless broadband and connectivity solutions for carriers, enterprises, small and medium-sized businesses, public-sector organizations, and consumers. Its products are designed to provide high-speed internet access over cellular networks, including 5G and 4G LTE.

The company’s portfolio includes fixed wireless access devices, mobile broadband hotspots, wireless routers, customer-premises equipment, and related networking hardware. Inseego also provides cloud-based management and monitoring software intended to help customers deploy, control, and support connected devices and wireless networks.

Inseego serves customers through relationships with mobile network operators, channel partners, and technology providers in North America and international markets.