Inseego (NASDAQ:INSG) Raised to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Inseego from “strong sell” to “sell,” while the broader analyst consensus remains “Hold” with an average price target of $14.60.
• Inseego shares opened at $4.13, near their 12-month low of $3.93 and well below the 200-day moving average of $9.97. The company recently reported an adjusted loss of $0.18 per share, missing estimates by $0.06, despite revenue exceeding expectations.
• Institutional investors own 34.2% of Inseego, with several hedge funds—including Royce & Associates, Dimensional Fund Advisors and Renaissance Technologies—recently increasing their stakes.

Inseego (NASDAQ:INSG - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued research reports about the stock. UBS Group set a $9.00 price objective on shares of Inseego in a research note on Thursday, August 6th. Roth Capital reaffirmed a "buy" rating on shares of Inseego in a research note on Friday, August 7th. Lake Street Capital set a $12.00 target price on shares of Inseego in a report on Thursday, August 6th. Zacks Research lowered shares of Inseego from a "hold" rating to a "strong sell" rating in a report on Friday, August 14th. Finally, Weiss Ratings cut Inseego from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Inseego presently has an average rating of "Hold" and a consensus price target of $14.60.

Inseego Stock Up 1.2%

Shares of INSG stock opened at $4.13 on Friday. The business's fifty day moving average is $5.50 and its 200 day moving average is $9.97. The stock has a market cap of $67.81 million, a price-to-earnings ratio of 31.77 and a beta of 1.65. Inseego has a twelve month low of $3.93 and a twelve month high of $21.90.

Inseego (NASDAQ:INSG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The firm had revenue of $43.98 million for the quarter, compared to analysts' expectations of $39.90 million. Inseego had a negative net margin of 6.41% and a negative return on equity of 13.38%. Equities research analysts expect that Inseego will post -1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inseego

A number of hedge funds have recently bought and sold shares of INSG. Royce & Associates LP increased its stake in Inseego by 25.4% during the 4th quarter. Royce & Associates LP now owns 508,000 shares of the technology company's stock valued at $5,217,000 after purchasing an additional 103,000 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Inseego by 25.7% in the first quarter. Dimensional Fund Advisors LP now owns 129,235 shares of the technology company's stock worth $1,436,000 after buying an additional 26,423 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Inseego by 64.7% in the first quarter. Renaissance Technologies LLC now owns 118,317 shares of the technology company's stock worth $1,316,000 after buying an additional 46,500 shares in the last quarter. Militia Capital Management LLC bought a new position in shares of Inseego in the first quarter worth approximately $518,000. Finally, Larson Financial Group LLC grew its holdings in shares of Inseego by 32.7% during the fourth quarter. Larson Financial Group LLC now owns 36,996 shares of the technology company's stock valued at $380,000 after buying an additional 9,111 shares during the last quarter. Institutional investors own 34.20% of the company's stock.

Inseego Company Profile

Inseego Corp. NASDAQ: INSG develops and supplies wireless broadband solutions for businesses, service providers and other organizations. Its product portfolio includes 4G LTE and 5G mobile hotspots, fixed wireless access devices, indoor and outdoor customer-premises equipment, routers and gateways designed to provide primary or backup internet connectivity.

The company also provides cloud-based management and software tools that help customers deploy, monitor and manage connected devices and wireless networks.

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