Inseego (NASDAQ:INSG) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Analysts: Inseego has an average broker rating of Hold from five firms (1 sell, 2 hold, 1 buy, 1 strong buy) with a mean 12‑month price target of $16.50.
• Institutional activity: Hedge funds own about 34.20% of the stock, with notable new positions established in Q3 by Royce & Associates (~$6.06M) and First Eagle (~$2.11M) and a large stake increase by AlphaQuest.
• Stock and results: Shares traded near $15.02 (52‑week range $6.27–$18.11) and the company beat quarterly estimates with EPS $0.12 vs. $0.07 and revenue $48.4M, though analysts still project FY EPS of -0.21 and the company shows a negative P/E.

Inseego (NASDAQ:INSG - Get Free Report) has earned an average rating of "Hold" from the five brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $16.50.

Several research firms recently commented on INSG. TD Cowen restated a "hold" rating and set a $15.00 target price (up from $14.00) on shares of Inseego in a research report on Thursday, January 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Inseego in a research report on Monday, December 29th.

Hedge Funds Weigh In On Inseego

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP purchased a new position in Inseego during the third quarter worth about $6,063,000. First Eagle Investment Management LLC purchased a new position in Inseego during the third quarter worth about $2,109,000. Nkcfo LLC purchased a new position in Inseego during the third quarter worth about $359,000. Stratos Wealth Partners LTD. grew its position in Inseego by 5.5% during the third quarter. Stratos Wealth Partners LTD. now owns 32,375 shares of the technology company's stock worth $485,000 after buying an additional 1,700 shares in the last quarter. Finally, AlphaQuest LLC grew its position in Inseego by 276.2% during the third quarter. AlphaQuest LLC now owns 35,525 shares of the technology company's stock worth $532,000 after buying an additional 26,083 shares in the last quarter. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

Inseego Stock Performance

NASDAQ:INSG opened at $15.02 on Friday. Inseego has a 52-week low of $6.27 and a 52-week high of $18.11. The firm has a market cap of $243.76 million, a price-to-earnings ratio of -79.05 and a beta of 1.30. The business's fifty day moving average is $12.40 and its 200 day moving average is $12.17.

Inseego (NASDAQ:INSG - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.05. Inseego had a negative return on equity of 13.38% and a net margin of 0.50%.The company had revenue of $48.40 million for the quarter, compared to analyst estimates of $46.89 million. Equities analysts predict that Inseego will post -0.21 EPS for the current fiscal year.

About Inseego

Inseego Corp is a U.S.-based technology company specializing in 5G and intelligent Internet of Things (IoT) device-to-cloud solutions. The company develops hardware and software platforms designed to connect devices, vehicles and remote locations to high-speed wireless networks. Its core offerings include mobile hotspots, fixed wireless access gateways and ruggedized routers optimized for enterprise, industrial and government applications.

Inseego's product portfolio encompasses 5G MiFi® mobile hotspots, virtual network functions (VNFs) for network management, telematics devices for fleet tracking and asset monitoring, as well as a suite of cloud-native software for device lifecycle management and data analytics.

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