Inseego (NASDAQ:INSG) Stock Price Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• Inseego shares moved above their 50-day moving average, trading as high as $4.57 and last at $4.54, compared with the average of $4.30.
• Analyst views are mixed: the consensus rating is Hold, with a $13 average price target; individual firms include Buy, Hold, and Sell ratings.
• For its latest quarter, Inseego reported a loss of $0.27 per share, beating estimates of a $0.33 loss, while revenue of $33.26 million also exceeded forecasts.

Inseego (NASDAQ:INSG - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $4.30 and traded as high as $4.57. Inseego shares last traded at $4.54, with a volume of 175,953 shares traded.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Roth Capital reaffirmed a "buy" rating on shares of Inseego in a research report on Friday, August 7th. Weiss Ratings downgraded Inseego from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday. Lake Street Capital set a $12.00 target price on Inseego in a research report on Thursday, August 6th. Wall Street Zen upgraded Inseego from a "strong sell" rating to a "sell" rating in a research note on Saturday, October 31st. Finally, UBS Group set a $9.00 price target on Inseego in a report on Thursday, August 6th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $13.00.

Inseego Price Performance

The stock has a market cap of $83.94 million, a price-to-earnings ratio of -11.64 and a beta of 1.65. The stock's 50 day simple moving average is $4.30 and its two-hundred day simple moving average is $9.04.

Inseego (NASDAQ:INSG - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.33) by $0.06. The business had revenue of $33.26 million during the quarter, compared to analyst estimates of $31.21 million. As a group, analysts predict that Inseego will post -1.39 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Militia Capital Management LLC acquired a new stake in Inseego during the first quarter valued at approximately $518,000. Renaissance Technologies LLC raised its holdings in shares of Inseego by 64.7% in the 1st quarter. Renaissance Technologies LLC now owns 118,317 shares of the technology company's stock worth $1,316,000 after buying an additional 46,500 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Inseego in the 2nd quarter worth approximately $290,000. Dimensional Fund Advisors LP raised its holdings in shares of Inseego by 25.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 129,235 shares of the technology company's stock worth $1,436,000 after buying an additional 26,423 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its position in shares of Inseego by 138.3% during the 2nd quarter. WINTON GROUP Ltd now owns 36,387 shares of the technology company's stock worth $376,000 after buying an additional 21,119 shares during the period. Institutional investors own 34.20% of the company's stock.

About Inseego

Inseego Corp. develops wireless broadband and mobile networking solutions for service providers, enterprises, small businesses, government organizations and consumers. The company focuses on connecting devices, locations and users through cellular networks, with an emphasis on 5G and other high-speed wireless technologies. Its product portfolio includes mobile hotspots, fixed wireless access equipment, indoor and outdoor customer-premises equipment, routers and gateways. Inseego also provides cloud-based device management and networking software designed to help customers provision, monitor and manage connected equipment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.