Inseego (NASDAQ:INSG) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Inseego has a consensus “Hold” rating from eight analysts, with three buys, two holds, two sells and one strong buy. The average 12-month price target is $14.60.
• Recent analyst actions were mixed, including a $9.00 price target from UBS, a “Buy” reiteration from Roth Capital and downgrades from several firms, including Zacks Research to “Strong Sell.”
• The stock opened at $4.18, near its 52-week low of $3.93, while the company’s latest quarterly loss of $0.18 per share missed estimates despite revenue exceeding expectations.

Shares of Inseego (NASDAQ:INSG - Get Free Report) have received an average recommendation of "Hold" from the eight research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $14.60.

A number of brokerages have recently weighed in on INSG. UBS Group set a $9.00 price objective on shares of Inseego in a report on Thursday, August 6th. Weiss Ratings lowered Inseego from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, August 21st. Wall Street Zen raised Inseego from a "strong sell" rating to a "sell" rating in a report on Saturday. Zacks Research lowered shares of Inseego from a "hold" rating to a "strong sell" rating in a research note on Friday, August 14th. Finally, Roth Capital restated a "buy" rating on shares of Inseego in a report on Friday, August 7th.

Hedge Funds Weigh In On Inseego

Hedge funds have recently made changes to their positions in the company. Royce & Associates LP boosted its holdings in shares of Inseego by 25.4% in the fourth quarter. Royce & Associates LP now owns 508,000 shares of the technology company's stock valued at $5,217,000 after acquiring an additional 103,000 shares during the period. WINTON GROUP Ltd grew its position in shares of Inseego by 138.3% during the second quarter. WINTON GROUP Ltd now owns 36,387 shares of the technology company's stock worth $376,000 after acquiring an additional 21,119 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Inseego in the 2nd quarter valued at $115,000. AXQ Capital LP purchased a new stake in Inseego in the 2nd quarter valued at $128,000. Finally, Bank of New York Mellon Corp acquired a new stake in Inseego during the 2nd quarter worth $290,000. Hedge funds and other institutional investors own 34.20% of the company's stock.

Inseego Stock Up 1.2%

NASDAQ:INSG opened at $4.18 on Tuesday. Inseego has a 52 week low of $3.93 and a 52 week high of $21.90. The company has a fifty day simple moving average of $5.42 and a two-hundred day simple moving average of $9.90. The company has a market cap of $68.64 million, a price-to-earnings ratio of 32.16 and a beta of 1.65.

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

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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