683 Capital Management LLC Takes $577,000 Position in Inseego Corp. (NASDAQ:INSG)

683 Capital Management LLC purchased a new stake in Inseego Corp. (NASDAQ:INSG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 56,217 shares of the technology company's stock, valued at approximately $577,000. 683 Capital Management LLC owned 0.38% of Inseego as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Barclays PLC boosted its stake in Inseego by 71.3% in the 3rd quarter. Barclays PLC now owns 4,051 shares of the technology company's stock valued at $67,000 after purchasing an additional 1,686 shares during the period. Northern Trust Corp grew its stake in Inseego by 9.2% during the fourth quarter. Northern Trust Corp now owns 21,962 shares of the technology company's stock worth $225,000 after buying an additional 1,854 shares in the last quarter. Quantbot Technologies LP acquired a new position in Inseego during the fourth quarter valued at approximately $60,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Inseego by 3.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 158,673 shares of the technology company's stock worth $1,628,000 after buying an additional 5,992 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in Inseego by 655.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,080 shares of the technology company's stock valued at $83,000 after acquiring an additional 7,010 shares during the last quarter. 34.20% of the stock is currently owned by institutional investors and hedge funds.

Inseego Price Performance

Shares of NASDAQ INSG opened at $8.23 on Friday. Inseego Corp. has a 1 year low of $3.59 and a 1 year high of $20.67. The firm has a market cap of $123.50 million, a PE ratio of -13.27 and a beta of 1.79. The company has a 50 day simple moving average of $8.57 and a 200 day simple moving average of $11.58.

Inseego (NASDAQ:INSG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06). The business had revenue of $48.09 million during the quarter, compared to the consensus estimate of $45.56 million. Inseego had a negative return on equity of 4.08% and a net margin of 2.22%. As a group, research analysts anticipate that Inseego Corp. will post -0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Stifel Nicolaus lowered their price objective on shares of Inseego from $11.00 to $8.00 and set a "hold" rating for the company in a research report on Thursday, April 17th.

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.

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