Stifel Nicolaus Reaffirms "Hold" Rating for Inseego (NASDAQ:INSG)

Last updated on Monday, March 8, 2021 | 2021 MarketBeat

Inseego (NASDAQ:INSG)'s stock had its "hold" rating restated by equities research analysts at Stifel Nicolaus in a research note issued on Monday, Benzinga reports. They presently have a $13.00 target price on the technology company's stock, down from their previous target price of $14.00. Stifel Nicolaus' price objective suggests a potential upside of 37.57% from the stock's previous close.

Other research analysts have also issued reports about the company. Canaccord Genuity reaffirmed a "hold" rating and set a $12.00 target price (down from $13.00) on shares of Inseego in a research report on Monday. Cowen decreased their price target on Inseego from $20.00 to $15.00 and set an "outperform" rating for the company in a report on Tuesday, March 2nd. Zacks Investment Research downgraded Inseego from a "hold" rating to a "sell" rating in a report on Friday. Finally, Lake Street Capital reiterated a "hold" rating and set a $13.00 price target (down from $17.00) on shares of Inseego in a report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Inseego currently has a consensus rating of "Hold" and a consensus target price of $12.32.

Shares of NASDAQ INSG opened at $9.45 on Monday. Inseego has a twelve month low of $3.91 and a twelve month high of $21.93. The business's 50 day moving average price is $17.14 and its two-hundred day moving average price is $12.82. The company has a market cap of $963.26 million, a PE ratio of -7.76 and a beta of 1.92.

Inseego (NASDAQ:INSG) last issued its quarterly earnings results on Monday, March 1st. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of ($0.05) by ($0.02). The company had revenue of $86.10 million during the quarter, compared to analyst estimates of $83.80 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. Inseego's quarterly revenue was up 64.6% compared to the same quarter last year. Equities analysts forecast that Inseego will post -1.08 EPS for the current fiscal year.

In other news, EVP Doug Kahn sold 5,208 shares of the firm's stock in a transaction dated Monday, December 14th. The stock was sold at an average price of $16.24, for a total value of $84,577.92. Following the completion of the sale, the executive vice president now directly owns 35,779 shares in the company, valued at approximately $581,050.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Ltd. Braslyn sold 2,385,170 shares of the firm's stock in a transaction dated Wednesday, December 16th. The shares were sold at an average price of $15.43, for a total value of $36,803,173.10. Over the last 90 days, insiders sold 4,265,994 shares of company stock valued at $65,860,449. 9.80% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC raised its stake in shares of Inseego by 14.8% in the fourth quarter. Kestra Advisory Services LLC now owns 13,263 shares of the technology company's stock worth $209,000 after purchasing an additional 1,714 shares during the last quarter. Signaturefd LLC raised its stake in shares of Inseego by 550.1% in the third quarter. Signaturefd LLC now owns 2,633 shares of the technology company's stock worth $27,000 after purchasing an additional 2,228 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Inseego by 3.0% in the third quarter. California Public Employees Retirement System now owns 159,255 shares of the technology company's stock worth $1,644,000 after purchasing an additional 4,700 shares during the last quarter. Resources Investment Advisors LLC. purchased a new stake in shares of Inseego in the fourth quarter worth approximately $176,000. Finally, Stratos Wealth Partners LTD. raised its stake in shares of Inseego by 41.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 122,329 shares of the technology company's stock worth $1,892,000 after purchasing an additional 35,800 shares during the last quarter. 47.30% of the stock is owned by hedge funds and other institutional investors.

Inseego Company Profile

Inseego Corp. engages in the design and development of mobile, Internet of Things (IoT), and cloud solutions for large enterprise verticals, service providers, and small and medium-sized businesses worldwide. The company provides wireless 3G, 4G, and 5G hardware products for vertical markets, including private LTE/5G networks, First responders network authority/Firstnet, SD-WAN, telematics, remote monitoring and surveillance, and fixed wireless access and mobile broadband devices.

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Analyst Recommendations for Inseego (NASDAQ:INSG)

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