Inseego Corp (NASDAQ:INSG) Director Brian Miller sold 3,900,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $4.80, for a total transaction of $18,720,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
NASDAQ INSG traded up $0.05 during trading hours on Friday, reaching $5.15. The company had a trading volume of 874,558 shares, compared to its average volume of 993,562. The firm has a 50-day moving average price of $4.74. Inseego Corp has a 1-year low of $1.73 and a 1-year high of $6.00. The company has a market capitalization of $401.52 million, a PE ratio of -42.92 and a beta of 0.46.
Inseego (NASDAQ:INSG) last posted its earnings results on Wednesday, May 8th. The technology company reported ($0.10) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.10). The company had revenue of $48.56 million during the quarter, compared to analyst estimates of $47.57 million. On average, sell-side analysts expect that Inseego Corp will post -0.25 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on the stock. ValuEngine raised shares of Vermillion from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. BidaskClub raised shares of Xilinx from a “hold” rating to a “buy” rating in a research report on Saturday, June 29th. National Securities lowered their price target on shares of Aquabounty Technologies from $6.50 to $5.50 and set a “buy” rating on the stock in a research report on Wednesday, March 20th. Finally, Cowen assumed coverage on shares of Inseego in a research report on Friday, May 24th. They set an “outperform” rating and a $8.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Inseego has a consensus rating of “Buy” and a consensus target price of $6.07.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Chicago Capital LLC acquired a new position in Inseego in the second quarter valued at about $96,000. WINTON GROUP Ltd lifted its position in shares of Inseego by 124.8% during the second quarter. WINTON GROUP Ltd now owns 71,245 shares of the technology company’s stock worth $341,000 after purchasing an additional 39,555 shares in the last quarter. RVW Wealth LLC acquired a new stake in shares of Inseego during the second quarter worth about $48,000. Resources Investment Advisors Inc. lifted its position in shares of Inseego by 54.3% during the first quarter. Resources Investment Advisors Inc. now owns 31,900 shares of the technology company’s stock worth $151,000 after purchasing an additional 11,225 shares in the last quarter. Finally, EAM Global Investors LLC acquired a new stake in shares of Inseego during the first quarter worth about $1,135,000. 44.96% of the stock is currently owned by institutional investors.
Inseego Corp. engages in the design and development of mobile, Internet of Things (IoT), and cloud solutions for large enterprise verticals, service providers, and small and medium-sized businesses worldwide. The company provides wireless 3G, 4G, and 5G hardware products that address various markets, including fleet and commercial telematics, aftermarket telematics, smart city infrastructure management, remote monitoring and control, wireless surveillance systems, security and connected home and fixed wireless access, and mobile broadband devices.
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