Inseego (NASDAQ:INSG)‘s stock had its “buy” rating restated by analysts at Roth Capital in a research report issued on Wednesday, TipRanks reports. They presently have a $9.25 target price on the technology company’s stock. Roth Capital’s target price indicates a potential upside of 43.63% from the company’s current price.
INSG has been the subject of several other research reports. Zacks Investment Research upgraded shares of Inseego from a “sell” rating to a “hold” rating in a research report on Wednesday. Lake Street Capital cut their target price on shares of Inseego from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. National Securities raised shares of Inseego from a “neutral” rating to a “buy” rating in a report on Thursday, March 12th. ValuEngine raised shares of Inseego from a “hold” rating to a “buy” rating in a report on Tuesday, March 3rd. Finally, BidaskClub raised shares of Inseego from a “sell” rating to a “hold” rating in a report on Friday, March 20th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $8.07.
Shares of NASDAQ:INSG traded up $0.20 during trading on Wednesday, hitting $6.44. 2,620,102 shares of the company were exchanged, compared to its average volume of 2,967,234. The stock has a market capitalization of $628.63 million, a P/E ratio of -12.38 and a beta of 1.08. Inseego has a 12-month low of $3.61 and a 12-month high of $9.75. The firm’s 50 day moving average price is $6.82 and its 200-day moving average price is $6.32.
Inseego (NASDAQ:INSG) last issued its quarterly earnings data on Wednesday, March 11th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The firm had revenue of $52.30 million for the quarter, compared to analyst estimates of $51.91 million. The company’s revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 EPS. As a group, analysts forecast that Inseego will post -0.38 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Nuveen Asset Management LLC increased its holdings in shares of Inseego by 19.6% in the 4th quarter. Nuveen Asset Management LLC now owns 136,100 shares of the technology company’s stock valued at $997,000 after acquiring an additional 22,278 shares during the period. Geode Capital Management LLC increased its stake in Inseego by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 696,096 shares of the technology company’s stock valued at $5,102,000 after buying an additional 16,897 shares during the period. Point72 Hong Kong Ltd increased its stake in Inseego by 6,363.7% in the 4th quarter. Point72 Hong Kong Ltd now owns 7,304 shares of the technology company’s stock valued at $54,000 after buying an additional 7,191 shares during the period. Cubist Systematic Strategies LLC increased its stake in Inseego by 14.9% in the 4th quarter. Cubist Systematic Strategies LLC now owns 39,291 shares of the technology company’s stock valued at $288,000 after buying an additional 5,100 shares during the period. Finally, Bank of America Corp DE increased its stake in Inseego by 3,006.9% in the 4th quarter. Bank of America Corp DE now owns 512,239 shares of the technology company’s stock valued at $3,755,000 after buying an additional 495,752 shares during the period. 38.51% of the stock is currently owned by institutional investors and hedge funds.
Inseego Company Profile
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.
Read More: What is dollar cost averaging (DCA)?
Receive News & Ratings for Inseego Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inseego and related companies with MarketBeat.com's FREE daily email newsletter.