Inseego (NASDAQ:INSG) Receives $18.50 Consensus Target Price from Analysts

Inseego (NASDAQ:INSG) has been given a consensus recommendation of “Hold” by the five ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $18.50.

A number of analysts recently weighed in on INSG shares. Lake Street Capital reaffirmed a “buy” rating and set a $22.00 price target on shares of Inseego in a research report on Friday, May 1st. Weiss Ratings raised Inseego from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Finally, TD Cowen restated a “hold” rating and set a $18.00 price objective (up from $15.00) on shares of Inseego in a research note on Wednesday, May 13th.

Hedge Funds Weigh In On Inseego

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd grew its position in Inseego by 23.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 19,313 shares of the technology company’s stock valued at $158,000 after acquiring an additional 3,685 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Inseego by 118.9% during the second 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 in the last quarter. JPMorgan Chase & Co. lifted its position 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 worth $50,000 after purchasing an additional 5,867 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Inseego in the second quarter valued at $89,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Inseego in the second quarter valued at $101,000. 34.20% of the stock is owned by institutional investors and hedge funds.

Inseego Stock Down 1.9%

Shares of INSG stock opened at $7.86 on Thursday. Inseego has a fifty-two week low of $6.27 and a fifty-two week high of $21.90. The firm’s 50 day moving average price is $11.46 and its two-hundred day moving average price is $11.84. The stock has a market cap of $127.96 million, a price-to-earnings ratio of 12.68 and a beta of 1.65.

Inseego (NASDAQ:INSG) last released its quarterly earnings data on Friday, May 8th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.09. Inseego had a negative net margin of 1.26% and a negative return on equity of 13.38%. The company had revenue of $34.34 million during the quarter, compared to analyst estimates of $34.53 million. On average, equities analysts forecast that Inseego will post -0.45 EPS for the current fiscal year.

Inseego Company Profile

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.