Inseego (NASDAQ:INSG) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Inseego's shares recently surpassed their 200-day moving average of $8.56, reaching a trading high of $11.67.
• Wall Street analysts have mixed ratings for Inseego, with only one analyst recommending a Strong Buy and others assigning Hold ratings, against an average price target of $13.00.
• Insider transactions showed significant activity, with Director Sound Trading Lp North purchasing 15,100 shares, indicating increasing confidence in the company's stock.

Inseego (NASDAQ:INSG - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.56 and traded as high as $11.67. Inseego shares last traded at $11.57, with a volume of 306,035 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Inseego from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $13.00.

Inseego Stock Performance

The business has a 50 day moving average price of $8.38 and a two-hundred day moving average price of $8.58. The stock has a market cap of $185.44 million, a PE ratio of -35.23, a P/E/G ratio of 1.54 and a beta of 1.10.

Insider Buying and Selling at Inseego

In other Inseego news, Director Sound Trading Lp North bought 31,094 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average price of $8.98 per share, for a total transaction of $279,224.12. Following the purchase, the director directly owned 2,128,669 shares of the company's stock, valued at approximately $19,115,447.62. This represents a 1.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders purchased 55,001 shares of company stock valued at $479,591. 20.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Inseego

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in Inseego by 19.0% in the fourth quarter. Geode Capital Management LLC now owns 124,121 shares of the technology company's stock valued at $1,274,000 after purchasing an additional 19,817 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Inseego by 655.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,080 shares of the technology company's stock valued at $83,000 after purchasing an additional 7,010 shares during the last quarter. Barclays PLC lifted its stake in Inseego by 344.3% in the fourth quarter. Barclays PLC now owns 17,998 shares of the technology company's stock valued at $184,000 after purchasing an additional 13,947 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in Inseego in the fourth quarter valued at approximately $112,000. Finally, Northern Trust Corp lifted its stake in Inseego by 9.2% in the fourth quarter. Northern Trust Corp now owns 21,962 shares of the technology company's stock valued at $225,000 after purchasing an additional 1,854 shares during the last quarter. 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.