Shares of Inseego Corp (NASDAQ:INSG) have received a consensus rating of “Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $6.33.
INSG has been the subject of several recent research reports. Northland Securities reiterated a “buy” rating and issued a $6.00 price target on shares of Inseego in a research note on Friday, March 1st. National Securities initiated coverage on Inseego in a research note on Wednesday, March 20th. They issued a “buy” rating and a $6.00 price target for the company. ValuEngine cut Inseego from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 20th. Zacks Investment Research cut Inseego from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. Finally, BidaskClub cut Inseego from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Resources Investment Advisors Inc. bought a new stake in Inseego during the fourth quarter worth $86,000. PEAK6 Investments LLC lifted its stake in Inseego by 103.3% during the fourth quarter. PEAK6 Investments LLC now owns 56,132 shares of the technology company’s stock worth $233,000 after purchasing an additional 28,528 shares during the last quarter. Northern Trust Corp lifted its stake in Inseego by 4.2% during the fourth quarter. Northern Trust Corp now owns 122,361 shares of the technology company’s stock worth $508,000 after purchasing an additional 4,879 shares during the last quarter. Tibra Equities Europe Ltd bought a new stake in Inseego during the first quarter worth $747,000. Finally, EAM Global Investors LLC bought a new stake in Inseego during the first quarter worth $1,135,000. Hedge funds and other institutional investors own 44.96% of the company’s stock.
Inseego (NASDAQ:INSG) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $48.56 million during the quarter, compared to the consensus estimate of $47.57 million. On average, equities analysts forecast that Inseego will post -0.25 earnings per share for the current fiscal year.
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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