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

Inseego (NASDAQ:INSG) has received a consensus recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating on 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.

A number of equities research analysts have commented on INSG shares. Wall Street Zen raised Inseego from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inseego in a report on Monday, December 29th. Lake Street Capital began coverage on shares of Inseego in a research note on Monday, December 15th. They set a “buy” rating and a $17.00 price target for the company. Finally, TD Cowen restated a “hold” rating and set a $15.00 price objective (up previously from $14.00) on shares of Inseego in a report on Thursday, January 15th.

Inseego Stock Up 0.2%

Inseego stock opened at $9.90 on Monday. The company has a market capitalization of $151.77 million, a PE ratio of -38.08 and a beta of 1.18. Inseego has a 12-month low of $6.24 and a 12-month high of $18.11. The firm’s fifty day moving average is $10.91 and its 200 day moving average is $11.92.

Hedge Funds Weigh In On Inseego

A number of hedge funds have recently added to or reduced their stakes in INSG. Royce & Associates LP purchased a new stake in shares of Inseego in the third quarter worth approximately $6,063,000. Balyasny Asset Management L.P. raised its position in Inseego by 171.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 502,026 shares of the technology company’s stock valued at $4,137,000 after buying an additional 317,401 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Inseego by 209.4% during the 4th quarter. First Eagle Investment Management LLC now owns 435,849 shares of the technology company’s stock valued at $4,476,000 after acquiring an additional 294,999 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Inseego by 118.9% during the 2nd quarter. Geode Capital Management LLC now owns 279,787 shares of the technology company’s stock worth $2,306,000 after acquiring an additional 151,970 shares during the last quarter. Finally, Gendell Jeffrey L boosted its holdings in Inseego by 34.6% during the 4th quarter. Gendell Jeffrey L now owns 429,301 shares of the technology company’s stock worth $4,409,000 after acquiring an additional 110,253 shares during the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

Inseego Company Profile

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.