Inseego Corp. (INSG) Announces Quarterly Earnings Results, Meets Estimates
Inseego Corp. (NASDAQ:INSG) issued its earnings results on Monday. The technology company reported ($0.21) EPS for the quarter, hitting the consensus estimate of ($0.21), Morningstar.com reports. Inseego Corp. had a negative return on equity of 204.22% and a negative net margin of 27.92%.
Shares of Inseego Corp. (INSG) traded up 9.91% on Tuesday, reaching $1.22. The company had a trading volume of 370,853 shares. The company’s 50-day moving average price is $1.25 and its 200-day moving average price is $1.97. Inseego Corp. has a 52-week low of $0.87 and a 52-week high of $3.80. The firm’s market capitalization is $68.28 million.
INSG has been the subject of several research reports. Zacks Investment Research cut Inseego Corp. from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. ValuEngine cut Inseego Corp. from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 16th. Canaccord Genuity reaffirmed a “hold” rating and issued a $1.25 target price on shares of Inseego Corp. in a research report on Thursday, June 8th. Finally, Northland Securities set a $2.00 target price on Inseego Corp. and gave the stock a “buy” rating in a research report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $1.94.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP bought a new position in Inseego Corp. during the fourth quarter worth $1,485,000. Renaissance Technologies LLC bought a new position in Inseego Corp. during the fourth quarter worth $1,748,000. Two Sigma Investments LP bought a new position in Inseego Corp. during the fourth quarter worth $167,000. Spark Investment Management LLC raised its position in Inseego Corp. by 55.1% in the first quarter. Spark Investment Management LLC now owns 58,800 shares of the technology company’s stock worth $122,000 after buying an additional 20,900 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Inseego Corp. by 2,239.6% in the first quarter. Goldman Sachs Group Inc. now owns 696,502 shares of the technology company’s stock worth $1,456,000 after buying an additional 666,732 shares in the last quarter. Institutional investors own 12.36% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Inseego Corp. (INSG) Announces Quarterly Earnings Results, Meets Estimates” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/08/07/inseego-corp-insg-announces-earnings-results.html.
About Inseego Corp.
Novatel Wireless, Inc is a provider of intelligent wireless solutions for the mobile communications market. The Company’s range of products includes intelligent mobile hotspots, universal serial bus (USB) modems, embedded modules, integrated asset-management and mobile tracking machine-to-machine (M2M) devices, communications and applications software and cloud services.
Receive News & Ratings for Inseego Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inseego Corp. and related companies with MarketBeat.com's FREE daily email newsletter.