BidaskClub Downgrades Inseego (NASDAQ:INSG) to Hold

BidaskClub lowered shares of Inseego (NASDAQ:INSG) from a buy rating to a hold rating in a report issued on Saturday, BidAskClub reports.

A number of other equities research analysts have also weighed in on the stock. ValuEngine lowered shares of Inseego from a buy rating to a hold rating in a research note on Tuesday, December 3rd. National Securities downgraded shares of Inseego to a hold rating and set a $6.50 price target for the company. in a research note on Friday, December 6th. Canaccord Genuity raised their price objective on shares of Inseego from $7.00 to $8.50 and gave the stock a buy rating in a report on Monday, October 28th. Zacks Investment Research raised Inseego from a sell rating to a hold rating and set a $9.25 price objective on the stock in a research report on Saturday, January 4th. Finally, Lake Street Capital upped their target price on Inseego from $6.50 to $9.00 and gave the stock a buy rating in a report on Thursday, January 9th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $8.38.

Shares of INSG opened at $7.85 on Friday. The stock has a market capitalization of $581.02 million, a P/E ratio of -65.42 and a beta of 0.78. The firm has a fifty day simple moving average of $7.11 and a two-hundred day simple moving average of $5.38. Inseego has a twelve month low of $3.61 and a twelve month high of $8.95.

Inseego (NASDAQ:INSG) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.08. The firm had revenue of $62.72 million for the quarter, compared to analysts’ expectations of $59.77 million. The company’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.10) EPS. On average, analysts predict that Inseego will post -0.48 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Wedbush Securities Inc. bought a new stake in shares of Inseego during the 3rd quarter valued at $48,000. MAI Capital Management bought a new position in shares of Inseego in the 3rd quarter worth about $58,000. Metropolitan Life Insurance Co NY bought a new position in shares of Inseego in the 3rd quarter worth about $74,000. BB&T Securities LLC increased its stake in shares of Inseego by 14.3% in the 3rd quarter. BB&T Securities LLC now owns 20,000 shares of the technology company’s stock worth $95,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Inseego by 18.5% in the 2nd quarter. Royal Bank of Canada now owns 21,573 shares of the technology company’s stock worth $103,000 after acquiring an additional 3,373 shares in the last quarter. 47.05% of the stock is owned by institutional investors and hedge funds.

About Inseego

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 that address various markets, including fleet and commercial telematics, aftermarket telematics, smart city infrastructure management, remote monitoring and control, wireless surveillance systems, security and connected home and fixed wireless access, and mobile broadband devices.

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Analyst Recommendations for Inseego (NASDAQ:INSG)

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