Inseego (NASDAQ:INSG) Given Average Recommendation of "Hold" by Analysts

Key Points

• Inseego (NASDAQ:INSG) has received an average analyst rating of "Hold", with recommendations ranging from sell to strong buy.
• The average 12-month price target for Inseego's stock is $13.00, reflecting the mixed outlook from analysts.
• Insiders have shown confidence by purchasing 55,001 shares of the company stock valued at approximately $479,591 in recent months.

Shares of Inseego (NASDAQ:INSG - Get Free Report) have earned an average rating of "Hold" from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $13.00.

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Inseego in a research note on Saturday, September 27th.

Inseego Price Performance

Shares of Inseego stock traded up $0.78 during midday trading on Friday, reaching $17.28. The company had a trading volume of 410,673 shares, compared to its average volume of 191,498. The stock has a fifty day moving average price of $11.11 and a 200 day moving average price of $9.05. The firm has a market cap of $259.94 million, a PE ratio of -49.37, a P/E/G ratio of 1.98 and a beta of 1.26. Inseego has a fifty-two week low of $6.24 and a fifty-two week high of $20.67.

Insiders Place Their Bets

In other Inseego news, Director Sound Trading Lp North bought 15,100 shares of the stock in a transaction on Thursday, August 14th. The stock was acquired at an average cost of $8.93 per share, for a total transaction of $134,843.00. Following the completion of the acquisition, the director owned 2,143,769 shares in the company, valued at $19,143,857.17. This trade represents a 0.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders purchased 55,001 shares of company stock valued at $479,591 in the last ninety days. Insiders own 20.90% of the company's stock.

Institutional Investors Weigh In On Inseego

A number of hedge funds have recently added to or reduced their stakes in INSG. Mackenzie Financial Corp bought a new stake in Inseego in the fourth quarter worth approximately $111,000. AlphaQuest LLC bought a new stake in shares of Inseego during the first quarter valued at approximately $317,000. OMERS ADMINISTRATION Corp increased its holdings in shares of Inseego by 205.5% during the first quarter. OMERS ADMINISTRATION Corp now owns 61,400 shares of the technology company's stock valued at $502,000 after acquiring an additional 41,300 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Inseego by 23.6% during 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. Finally, Acadian Asset Management LLC increased its holdings in shares of Inseego by 48.6% during the first quarter. Acadian Asset Management LLC now owns 229,169 shares of the technology company's stock valued at $1,870,000 after acquiring an additional 74,955 shares in the last quarter. 34.20% of the stock is currently owned by institutional investors.

Inseego Company Profile

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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