Inseego (NASDAQ:INSG) Stock Has Consensus Target Price of $13.00

Shares of Inseego (NASDAQ:INSG) have received an average recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $13.00.

Several research firms have recently commented on INSG. Weiss Ratings lowered 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 objective on Inseego in a research report on Thursday, August 6th. Lake Street Capital set a $12.00 target price on Inseego in a research note on Thursday, August 6th. Zacks Research upgraded Inseego from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. Finally, Roth Capital reissued a “buy” rating on shares of Inseego in a research report on Friday, August 7th.

Inseego Trading Up 1.2%

Shares of NASDAQ INSG opened at $4.24 on Friday. Inseego has a 52 week low of $3.58 and a 52 week high of $21.90. The firm has a 50-day moving average price of $4.25 and a 200 day moving average price of $8.67.

Inseego (NASDAQ:INSG) last issued its earnings results on Wednesday, August 5th. The technology company reported ($0.18) earnings per share (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. Analysts anticipate that Inseego will post -1.39 EPS for the current fiscal year.

Institutional Trading of Inseego

A number of large investors have recently made changes to their positions in INSG. Engineers Gate Manager LP purchased a new stake in Inseego during the 2nd quarter worth about $115,000. AXQ Capital LP acquired a new stake in shares of Inseego during the 2nd quarter worth about $128,000. Bank of New York Mellon Corp acquired a new stake in shares of Inseego during the 2nd quarter worth about $290,000. WINTON GROUP Ltd grew its holdings in shares of Inseego by 138.3% during the second quarter. WINTON GROUP Ltd now owns 36,387 shares of the technology company’s stock worth $376,000 after buying an additional 21,119 shares in the last quarter. Finally, Militia Capital Management LLC purchased a new stake in shares of Inseego during the first quarter worth about $518,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

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.