Inseego (NASDAQ:INSG) Downgraded to “Hold” at ValuEngine

ValuEngine lowered shares of Inseego (NASDAQ:INSG) from a buy rating to a hold rating in a research report sent to investors on Tuesday, ValuEngine reports.

Several other research analysts have also weighed in on INSG. BidaskClub raised Inseego from a sell rating to a hold rating in a research report on Thursday, November 21st. National Securities reiterated a buy rating and set a $5.50 price target on shares of Inseego in a report on Wednesday, August 7th. Canaccord Genuity lifted their price target on Inseego from $7.00 to $8.50 and gave the company a buy rating in a report on Monday, October 28th. Zacks Investment Research raised Inseego from a sell rating to a hold rating in a research note on Monday. Finally, Northland Securities assumed coverage on Inseego in a report on Tuesday, November 26th. They issued a buy rating and a $6.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $6.50.

Inseego stock opened at $6.46 on Tuesday. The firm’s 50 day simple moving average is $5.33 and its 200-day simple moving average is $4.86. Inseego has a fifty-two week low of $3.50 and a fifty-two week high of $6.92. The company has a market cap of $508.20 million, a P/E ratio of -53.83 and a beta of 0.75.

Inseego (NASDAQ:INSG) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. The company had revenue of $62.72 million during the quarter, compared to analysts’ expectations of $59.77 million. Inseego’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the company earned ($0.10) earnings per share. As a group, research analysts predict that Inseego will post -0.48 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in INSG. Wedbush Securities Inc. bought a new stake in shares of Inseego during the 3rd quarter worth about $48,000. Advisory Services Network LLC raised its stake in shares of Inseego by 71.2% in the 2nd quarter. Advisory Services Network LLC now owns 10,820 shares of the technology company’s stock valued at $52,000 after acquiring an additional 4,500 shares in the last quarter. MAI Capital Management bought a new position in shares of Inseego in the 3rd quarter valued at approximately $58,000. Traynor Capital Management Inc. lifted its holdings in Inseego by 25.0% in the 2nd quarter. Traynor Capital Management Inc. now owns 15,000 shares of the technology company’s stock worth $73,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY acquired a new stake in Inseego in the 3rd quarter worth approximately $74,000. 47.24% of the stock is owned by 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 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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