Inseego (NASDAQ:INSG) Stock Rating Upgraded by Zacks Research

Inseego (NASDAQ:INSG) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

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

Inseego Price Performance

Inseego stock opened at $4.57 on Tuesday. The firm has a market capitalization of $75.04 million, a price-to-earnings ratio of 35.16 and a beta of 1.61. The company’s 50 day simple moving average is $4.67 and its 200 day simple moving average is $9.26. Inseego has a fifty-two week low of $3.58 and a fifty-two week high of $21.90.

Inseego (NASDAQ:INSG) last issued its earnings results on Wednesday, August 5th. The technology company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The business had revenue of $43.98 million for the quarter, compared to analysts’ expectations of $39.90 million. As a group, analysts predict that Inseego will post -1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Inseego

A number of hedge funds and other institutional investors have recently made changes to their positions in INSG. WINTON GROUP Ltd raised its stake in shares of Inseego by 138.3% in the 2nd quarter. WINTON GROUP Ltd now owns 36,387 shares of the technology company’s stock valued at $376,000 after purchasing an additional 21,119 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Inseego during the second quarter worth about $115,000. AXQ Capital LP acquired a new position in shares of Inseego during the second quarter worth about $128,000. Bank of New York Mellon Corp bought a new position in shares of Inseego during the second quarter worth about $290,000. Finally, Militia Capital Management LLC bought a new position in shares of Inseego during the first quarter worth about $518,000. 34.20% of the stock is currently owned by institutional investors and hedge funds.

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.