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

683 Capital Management LLC purchased a new position in shares of Inseego Corp. (NASDAQ:INSG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of Inseego in the 4th quarter worth approximately $60,000. Barclays PLC lifted its position in shares of Inseego by 71.3% during the 3rd quarter. Barclays PLC now owns 4,051 shares of the technology company's stock valued at $67,000 after acquiring an additional 1,686 shares during the period. Wells Fargo & Company MN grew its holdings in Inseego by 655.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,080 shares of the technology company's stock worth $83,000 after purchasing an additional 7,010 shares during the period. Tower Research Capital LLC TRC bought a new position in shares of Inseego during the 4th quarter worth about $112,000. Finally, Townsquare Capital LLC acquired a new position in Inseego during the 4th quarter worth approximately $131,000. Institutional investors and hedge funds own 34.20% of the company's stock.

Inseego Price Performance

INSG remained flat at $8.34 during mid-day trading on Wednesday. 67,875 shares of the company's stock were exchanged, compared to its average volume of 195,917. The business has a 50-day moving average of $8.42 and a 200 day moving average of $11.30. The stock has a market capitalization of $125.15 million, a PE ratio of -13.45 and a beta of 1.15. Inseego Corp. has a 1 year low of $3.70 and a 1 year high of $20.67.

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

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus cut their target price on Inseego from $11.00 to $8.00 and set a "hold" rating on the stock in a 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.