Inseego (NASDAQ:INSG) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Shares crossed above the 200‑day moving average — INSG traded as high as $15.95 and last at $14.82, above the 200‑day MA of $12.18 on volume of about 85,637 shares.
• Inseego beat the quarter's estimates (EPS $0.12 vs. $0.07; revenue $48.4M vs. $46.89M) but still faces a negative full‑year EPS outlook (consensus -$0.21) and only a 0.5% net margin.
• Analysts are mixed with an average rating of "Hold" and a consensus price target of $16.50 (ratings include 1 Strong Buy, 1 Buy, 2 Hold, 1 Sell; TD Cowen set a $15 target).

Shares of Inseego (NASDAQ:INSG - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.18 and traded as high as $15.95. Inseego shares last traded at $14.82, with a volume of 85,637 shares traded.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. TD Cowen reiterated a "hold" rating and set a $15.00 price objective (up from $14.00) on shares of Inseego in a report on Thursday, January 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Inseego in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Inseego presently has an average rating of "Hold" and a consensus target price of $16.50.

Inseego Trading Down 2.0%

The stock's 50 day moving average price is $12.30 and its 200 day moving average price is $12.18. The company has a market capitalization of $240.53 million, a price-to-earnings ratio of -78.00 and a beta of 1.30.

Inseego (NASDAQ:INSG - Get Free Report) last released its earnings results 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 business had revenue of $48.40 million for the quarter, compared to the consensus estimate of $46.89 million. On average, research analysts expect that Inseego will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On Inseego

A number of institutional investors and hedge funds have recently made changes to their positions in INSG. BNP Paribas Financial Markets grew its stake in shares of Inseego by 129.3% in the third quarter. BNP Paribas Financial Markets now owns 2,708 shares of the technology company's stock valued at $41,000 after buying an additional 1,527 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Inseego during the fourth quarter worth $33,000. Bank of America Corp DE raised its position in Inseego by 134.3% during the second quarter. Bank of America Corp DE now owns 5,870 shares of the technology company's stock worth $48,000 after acquiring an additional 3,365 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Inseego by 3,087.9% in the second quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company's stock valued at $50,000 after acquiring an additional 5,867 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Inseego in the second quarter valued at $56,000. Institutional investors own 34.20% of the company's stock.

Inseego Company Profile

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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