Inseego (NASDAQ:INSG) Given Consensus Rating of “Hold” by Analysts

Inseego (NASDAQ:INSG) has earned an average rating of “Hold” from the five analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $16.50.

Several brokerages recently commented on INSG. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inseego in a report on Monday, December 29th. TD Cowen restated a “hold” rating and issued a $15.00 price target (up from $14.00) on shares of Inseego in a report on Thursday, January 15th. Finally, Lake Street Capital began coverage on shares of Inseego in a research report on Monday, December 15th. They issued a “buy” rating and a $17.00 price objective for the company.

Inseego Trading Down 5.9%

Shares of NASDAQ INSG opened at $10.75 on Tuesday. The stock has a fifty day moving average price of $11.35 and a 200 day moving average price of $12.24. Inseego has a 12-month low of $6.24 and a 12-month high of $18.11. The company has a market cap of $174.37 million, a P/E ratio of -56.58 and a beta of 1.18.

Inseego (NASDAQ:INSG) last issued its quarterly earnings data on Thursday, February 19th. The technology company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. Inseego had a negative return on equity of 13.38% and a net margin of 0.50%.The company had revenue of $48.40 million for the quarter, compared to analysts’ expectations of $46.89 million. On average, sell-side analysts forecast that Inseego will post -0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Inseego

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Inseego by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 663,660 shares of the technology company’s stock worth $9,935,000 after buying an additional 29,236 shares in the last quarter. Royce & Associates LP grew its stake in shares of Inseego by 25.4% during the fourth quarter. Royce & Associates LP now owns 508,000 shares of the technology company’s stock valued at $5,217,000 after acquiring an additional 103,000 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of 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 fourth quarter. First Eagle Investment Management LLC now owns 435,849 shares of the technology company’s stock worth $4,476,000 after acquiring an additional 294,999 shares during the last quarter. Finally, Gendell Jeffrey L lifted its stake in shares of Inseego by 34.6% in the fourth quarter. Gendell Jeffrey L now owns 429,301 shares of the technology company’s stock worth $4,409,000 after acquiring an additional 110,253 shares in the last quarter. Hedge funds and other institutional investors own 34.20% of the company’s stock.

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.