Inseego (NASDAQ:INSG) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Inseego (NASDAQ:INSG) from a strong sell rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also recently commented on INSG. Weiss Ratings cut shares of Inseego from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 21st. UBS Group set a $9.00 price target on shares of Inseego in a research report on Thursday, August 6th. Lake Street Capital set a $12.00 price objective on Inseego in a research note on Thursday, August 6th. Roth Capital reiterated a “buy” rating on shares of Inseego in a report on Friday, August 7th. Finally, Zacks Research lowered Inseego from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.60.

Inseego Trading Up 1.2%

Shares of NASDAQ INSG opened at $4.13 on Friday. The stock’s 50-day moving average is $5.50 and its 200 day moving average is $9.97. The stock has a market cap of $67.81 million, a price-to-earnings ratio of 31.77 and a beta of 1.65. Inseego has a 1-year low of $3.93 and a 1-year high of $21.90.

Inseego (NASDAQ:INSG) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The business had revenue of $43.98 million for 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%. On average, analysts forecast that Inseego will post -1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Inseego

Several hedge funds and other institutional investors have recently modified their holdings of INSG. Royce & Associates LP grew its stake in shares of Inseego by 25.4% in the fourth quarter. Royce & Associates LP now owns 508,000 shares of the technology company’s stock worth $5,217,000 after purchasing an additional 103,000 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Inseego by 25.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 129,235 shares of the technology company’s stock valued at $1,436,000 after purchasing an additional 26,423 shares during the period. Renaissance Technologies LLC raised its position in Inseego by 64.7% during the 1st quarter. Renaissance Technologies LLC now owns 118,317 shares of the technology company’s stock valued at $1,316,000 after purchasing an additional 46,500 shares during the last quarter. Militia Capital Management LLC bought a new position in Inseego during the 1st quarter valued at approximately $518,000. Finally, Larson Financial Group LLC lifted its holdings in Inseego by 32.7% in the 4th quarter. Larson Financial Group LLC now owns 36,996 shares of the technology company’s stock worth $380,000 after buying an additional 9,111 shares during the period. 34.20% of the stock is owned by institutional investors.

Inseego Company Profile

Inseego Corp. (NASDAQ: INSG) develops and supplies wireless broadband solutions for businesses, service providers and other organizations. Its product portfolio includes 4G LTE and 5G mobile hotspots, fixed wireless access devices, indoor and outdoor customer-premises equipment, routers and gateways designed to provide primary or backup internet connectivity.

The company also provides cloud-based management and software tools that help customers deploy, monitor and manage connected devices and wireless networks.