Inseego (NASDAQ:INSG) PT Raised to $12.00 at TD Cowen

Inseego (NASDAQ:INSG) had its target price upped by TD Cowen from $3.50 to $12.00 in a research report released on Monday, Benzinga reports. The firm currently has a hold rating on the technology company’s stock.

Inseego Stock Performance

NASDAQ:INSG opened at $6.59 on Monday. The stock has a 50-day simple moving average of $3.66 and a 200 day simple moving average of $2.88. Inseego has a one year low of $1.62 and a one year high of $11.50. The company has a market capitalization of $78.29 million, a price-to-earnings ratio of -1.60 and a beta of 1.18.

Inseego (NASDAQ:INSG) last issued its earnings results on Thursday, May 9th. The technology company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $45.01 million for the quarter, compared to analyst estimates of $41.40 million. During the same period last year, the company posted ($0.50) earnings per share. On average, equities research analysts forecast that Inseego will post -2.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Inseego

A number of institutional investors and hedge funds have recently bought and sold shares of INSG. Braslyn Ltd. acquired a new stake in shares of Inseego in the fourth quarter valued at $1,675,000. Simplicity Solutions LLC bought a new stake in Inseego in the fourth quarter worth about $1,674,000. GSA Capital Partners LLP lifted its holdings in Inseego by 16.4% in the 3rd quarter. GSA Capital Partners LLP now owns 1,602,866 shares of the technology company’s stock valued at $673,000 after acquiring an additional 225,340 shares during the last quarter. Simplicity Wealth LLC bought a new position in shares of Inseego during the 1st quarter valued at about $2,132,000. Finally, Stratos Wealth Partners LTD. boosted its position in shares of Inseego by 14.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 207,972 shares of the technology company’s stock valued at $46,000 after purchasing an additional 26,850 shares in the last quarter. Institutional investors own 34.20% of the company’s stock.

About Inseego

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.