Lake Street Capital Initiates Coverage on Inseego (NASDAQ:INSG)

Equities researchers at Lake Street Capital assumed coverage on shares of Inseego (NASDAQ:INSG) in a report issued on Monday, Marketbeat.com reports. The brokerage set a “buy” rating and a $17.00 price target on the technology company’s stock. Lake Street Capital’s price target would indicate a potential upside of 44.93% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Inseego from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Craig Hallum set a $20.00 price target on Inseego and gave the stock a “buy” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inseego in a research report on Monday, December 8th. Finally, Stifel Nicolaus set a $14.00 target price on Inseego and gave the stock a “hold” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.00.

Inseego Stock Down 3.1%

Shares of INSG stock opened at $11.73 on Monday. The business’s fifty day moving average is $13.06 and its 200 day moving average is $10.99. The stock has a market cap of $179.82 million, a price-to-earnings ratio of -45.12 and a beta of 1.25. Inseego has a twelve month low of $6.24 and a twelve month high of $18.11.

Inseego (NASDAQ:INSG) last announced its quarterly earnings data on Friday, November 7th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.16). The firm had revenue of $45.89 million for the quarter, compared to analysts’ expectations of $41.86 million. Inseego had a negative net margin of 0.12% and a negative return on equity of 8.87%. Equities research analysts expect that Inseego will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of Inseego

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

Inseego Company Profile

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.