Inseego's (INSG) Sell (D+) Rating Reiterated at Weiss Ratings

Key Points

• Inseego's (INSG) stock has been reissued a "sell (D+)" rating by Weiss Ratings, while Craig Hallum set a price objective of $20.00 with a "buy" rating.
• The stock currently holds a consensus rating of "Moderate Buy" with an average price target of $14.75.
• Recent insider activity includes a director purchasing over 31,000 shares valued at approximately $279,224, indicating confidence in the company's prospects.

Inseego (NASDAQ:INSG - Get Free Report)'s stock had its "sell (d+)" rating reissued by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Craig Hallum set a $20.00 price objective on shares of Inseego and gave the company a "buy" rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $14.75.

Inseego Trading Up 5.0%

Shares of INSG stock opened at $16.23 on Wednesday. The stock has a 50-day moving average of $11.85 and a 200-day moving average of $9.24. Inseego has a 1-year low of $6.24 and a 1-year high of $20.67. The stock has a market cap of $244.15 million, a price-to-earnings ratio of -46.37, a PEG ratio of 1.94 and a beta of 1.26.

Insiders Place Their Bets

In related news, Director Sound Trading Lp North purchased 31,094 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average price of $8.98 per share, with a total value of $279,224.12. Following the acquisition, the director owned 2,128,669 shares of the company's stock, valued at $19,115,447.62. This trade represents a 1.48% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 55,001 shares of company stock valued at $479,591 in the last 90 days. 20.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp grew its stake in shares of Inseego by 16.8% during the 1st quarter. Mackenzie Financial Corp now owns 12,659 shares of the technology company's stock worth $103,000 after acquiring an additional 1,825 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new stake in Inseego during the second quarter valued at about $28,000. Bank of America Corp DE lifted its holdings 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 valued at $48,000 after purchasing an additional 3,365 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in 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 purchasing an additional 3,685 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of 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 purchasing an additional 5,867 shares during the period. Institutional investors own 34.20% of the company's stock.

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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