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

Shares of Inseego (NASDAQ:INSG) have been assigned a consensus rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $16.50.

Several research firms recently weighed in on INSG. Lake Street Capital started coverage on shares of Inseego in a report on Monday, December 15th. They set a “buy” rating and a $17.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Inseego in a report on Monday, December 29th. TD Cowen reaffirmed a “hold” rating and issued a $15.00 price objective (up from $14.00) on shares of Inseego in a research report on Thursday, January 15th. Finally, Wall Street Zen raised shares of Inseego from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th.

Hedge Funds Weigh In On Inseego

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royce & Associates LP bought a new stake in shares of Inseego in the third quarter valued at $6,063,000. First Eagle Investment Management LLC bought a new position in shares of Inseego during the 3rd quarter worth $2,109,000. AXQ Capital LP bought a new position in shares of Inseego during the 4th quarter worth $125,000. Larson Financial Group LLC increased 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 acquiring an additional 9,111 shares during the last quarter. Finally, Kestra Private Wealth Services LLC purchased a new stake in Inseego in the 4th quarter worth about $191,000. 34.20% of the stock is owned by institutional investors.

Inseego Price Performance

Shares of Inseego stock opened at $11.70 on Friday. The company has a market cap of $189.77 million, a PE ratio of -61.58 and a beta of 1.18. Inseego has a 52 week low of $6.24 and a 52 week high of $18.11. The business has a 50 day moving average price of $11.14 and a 200-day moving average price of $12.32.

Inseego (NASDAQ:INSG) last released its quarterly earnings results on Thursday, February 19th. The technology company reported $0.12 EPS for the quarter, beating 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 business had revenue of $48.40 million during the quarter, compared to analyst estimates of $46.89 million. As a group, research analysts anticipate that Inseego will post -0.06 EPS for the current year.

About Inseego

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.