Inseego (NASDAQ:INSG) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Inseego (NASDAQ:INSG) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.64 and traded as high as $10.68. Inseego shares last traded at $10.45, with a volume of 204,714 shares changing hands.

Analyst Ratings Changes

INSG has been the topic of a number of recent research reports. Stifel Nicolaus set a $14.00 target price on shares of Inseego and gave the stock a “hold” rating in a research report on Friday, October 17th. Craig Hallum set a $20.00 price objective on shares of Inseego and gave the stock a “buy” rating in a research note on Monday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Inseego in a report on Monday, November 17th. Finally, Wall Street Zen upgraded shares of Inseego from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.00.

Inseego Stock Up 0.3%

The firm’s fifty day simple moving average is $14.13 and its 200-day simple moving average is $10.64. The firm has a market capitalization of $160.17 million, a PE ratio of -29.86 and a beta of 1.23.

Inseego (NASDAQ:INSG) last announced its quarterly earnings results on Friday, November 7th. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.16). The firm had revenue of $79.58 million for the quarter, compared to the consensus estimate of $41.86 million. Inseego had a net margin of 4.22% and a negative return on equity of 24.81%. As a group, analysts predict that Inseego will post -0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in Inseego by 129.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,708 shares of the technology company’s stock worth $41,000 after buying an additional 1,527 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Inseego during the 2nd quarter valued at about $28,000. Bank of America Corp DE grew its stake in shares of Inseego by 134.3% in the second quarter. Bank of America Corp DE now owns 5,870 shares of the technology company’s stock worth $48,000 after acquiring an additional 3,365 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Inseego by 3,087.9% during the second quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company’s stock valued at $50,000 after purchasing an additional 5,867 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Inseego during the second quarter valued at approximately $56,000. 34.20% of the stock is owned by institutional investors.

About Inseego

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.