TD Cowen Raises Inseego (NASDAQ:INSG) Price Target to $15.00

Inseego (NASDAQ:INSG) had its price target lifted by equities researchers at TD Cowen from $14.00 to $15.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. TD Cowen’s price objective indicates a potential upside of 23.76% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Wall Street Zen raised Inseego from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Inseego in a research note on Monday, December 29th. Cowen restated a “hold” rating on shares of Inseego in a research report on Thursday. Craig Hallum set a $20.00 price target on Inseego and gave the stock a “buy” rating in a research report on Monday, October 6th. 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 analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Inseego currently has a consensus rating of “Hold” and an average price target of $16.50.

Inseego Trading Up 3.8%

NASDAQ INSG opened at $12.12 on Thursday. Inseego has a 12 month low of $6.24 and a 12 month high of $18.11. The stock has a market cap of $185.76 million, a PE ratio of -46.62 and a beta of 1.14. The stock’s 50 day moving average is $11.00 and its 200 day moving average is $11.43.

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

Institutional Investors Weigh In On Inseego

Hedge funds and other institutional investors have recently modified their holdings of the business. Royce & Associates LP purchased a new position in Inseego during the 3rd quarter valued at $6,063,000. Balyasny Asset Management L.P. increased its position in shares of Inseego by 171.9% during the second quarter. Balyasny Asset Management L.P. now owns 502,026 shares of the technology company’s stock worth $4,137,000 after acquiring an additional 317,401 shares during the period. Geode Capital Management LLC increased its holdings in Inseego by 118.9% during the 2nd quarter. Geode Capital Management LLC now owns 279,787 shares of the technology company’s stock worth $2,306,000 after purchasing an additional 151,970 shares during the period. First Eagle Investment Management LLC bought a new stake in Inseego during the 3rd quarter valued at $2,109,000. Finally, UBS Group AG raised its holdings in shares of Inseego by 134.9% in the third quarter. UBS Group AG now owns 126,145 shares of the technology company’s stock valued at $1,888,000 after acquiring an additional 72,452 shares in the last quarter. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

About Inseego

Inseego Corp is a U.S.-based technology company specializing in 5G and intelligent Internet of Things (IoT) device-to-cloud solutions. The company develops hardware and software platforms designed to connect devices, vehicles and remote locations to high-speed wireless networks. Its core offerings include mobile hotspots, fixed wireless access gateways and ruggedized routers optimized for enterprise, industrial and government applications.

Inseego’s product portfolio encompasses 5G MiFi® mobile hotspots, virtual network functions (VNFs) for network management, telematics devices for fleet tracking and asset monitoring, as well as a suite of cloud-native software for device lifecycle management and data analytics.