Inseego (NASDAQ:INSG) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• Inseego's stock price has recently crossed above its 200-day moving average of $8.59, currently trading at $13.26 with a high of $13.32 during the day.
• Analysts have expressed mixed views, with ratings showing one Strong Buy, one Buy, and two Hold ratings, resulting in a consensus rating of "Moderate Buy" and a price target of $13.00.
• Insider trading has seen significant activity, with a director purchasing over 31,000 shares, and overall insider ownership reaching 20.90% of the company's stock.

Inseego (NASDAQ:INSG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.59 and traded as high as $13.32. Inseego shares last traded at $13.26, with a volume of 246,713 shares.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Inseego from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Inseego has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

Inseego Stock Performance

The firm's 50 day simple moving average is $9.11 and its 200 day simple moving average is $8.59. The firm has a market capitalization of $199.43 million, a price-to-earnings ratio of -37.89, a PEG ratio of 1.61 and a beta of 1.25.

Insider Transactions at Inseego

In other Inseego news, Director Sound Trading Lp North bought 31,094 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average cost of $8.98 per share, for a total transaction of $279,224.12. Following the completion of the transaction, the director directly owned 2,128,669 shares of the company's stock, valued at approximately $19,115,447.62. This trade represents a 1.48% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 55,001 shares of company stock worth $479,591 in the last three months. Insiders own 20.90% of the company's stock.

Hedge Funds Weigh In On Inseego

A number of institutional investors have recently modified their holdings of the stock. Balyasny Asset Management L.P. boosted its stake in shares of Inseego by 171.9% in the second quarter. Balyasny Asset Management L.P. now owns 502,026 shares of the technology company's stock worth $4,137,000 after buying an additional 317,401 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Inseego by 118.9% in the second quarter. Geode Capital Management LLC now owns 279,787 shares of the technology company's stock valued at $2,306,000 after acquiring an additional 151,970 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Inseego in the 4th quarter worth approximately $1,114,000. Acadian Asset Management LLC boosted its position in Inseego by 48.6% in the 1st quarter. Acadian Asset Management LLC now owns 229,169 shares of the technology company's stock worth $1,870,000 after purchasing an additional 74,955 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of Inseego by 205.5% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 61,400 shares of the technology company's stock worth $502,000 after purchasing an additional 41,300 shares during the period. Hedge funds and other institutional investors own 34.20% of the company's stock.

About Inseego

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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