$59.51 Million in Sales Expected for Inseego Corp (NASDAQ:INSG) This Quarter

Equities research analysts expect Inseego Corp (NASDAQ:INSG) to report sales of $59.51 million for the current quarter, Zacks reports. Two analysts have made estimates for Inseego’s earnings. The lowest sales estimate is $59.32 million and the highest is $59.70 million. Inseego reported sales of $50.63 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.5%. The business is expected to issue its next earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Inseego will report full-year sales of $227.57 million for the current year, with estimates ranging from $226.14 million to $229.00 million. For the next fiscal year, analysts forecast that the company will report sales of $276.72 million, with estimates ranging from $269.55 million to $283.90 million. Zacks’ sales averages are an average based on a survey of analysts that follow Inseego.

Inseego (NASDAQ:INSG) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The firm had revenue of $55.89 million for the quarter, compared to analyst estimates of $53.11 million. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.11) EPS.

A number of research analysts have recently weighed in on INSG shares. Canaccord Genuity set a $7.00 price target on shares of Inseego and gave the company a “buy” rating in a report on Wednesday, August 7th. BidaskClub downgraded shares of Inseego from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Zacks Investment Research downgraded shares of Inseego from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. National Securities reiterated a “buy” rating and issued a $5.50 target price on shares of Inseego in a report on Wednesday, August 7th. Finally, Northland Securities set a $6.00 target price on shares of Inseego and gave the stock a “buy” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $6.07.

Shares of Inseego stock traded down $0.16 during midday trading on Friday, reaching $4.64. 826,454 shares of the company’s stock traded hands, compared to its average volume of 1,013,243. The company has a market cap of $385.77 million, a price-to-earnings ratio of -38.67 and a beta of 0.46. The company’s 50 day simple moving average is $4.45 and its 200 day simple moving average is $4.70. Inseego has a 52 week low of $3.23 and a 52 week high of $6.00.

In related news, Director Brian Miller sold 3,900,000 shares of Inseego stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $4.80, for a total value of $18,720,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 15.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC grew its position in Inseego by 71.2% in the 2nd quarter. Advisory Services Network LLC now owns 10,820 shares of the technology company’s stock worth $52,000 after purchasing an additional 4,500 shares during the last quarter. RVW Wealth LLC acquired a new stake in Inseego in the 2nd quarter worth $48,000. EAM Global Investors LLC acquired a new stake in Inseego in the 1st quarter worth $1,135,000. Chicago Capital LLC acquired a new stake in Inseego in the 2nd quarter worth $96,000. Finally, Resources Investment Advisors Inc. grew its position in Inseego by 54.3% in the 1st quarter. Resources Investment Advisors Inc. now owns 31,900 shares of the technology company’s stock worth $151,000 after purchasing an additional 11,225 shares during the last quarter. Institutional investors own 47.96% of the company’s stock.

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 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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