Inseego (NASDAQ:INSG) Stock Rating Reaffirmed by Roth Capital

Inseego (NASDAQ:INSG)‘s stock had its “buy” rating restated by stock analysts at Roth Capital in a note issued to investors on Wednesday, TipRanks reports. They presently have a $9.25 target price on the technology company’s stock. Roth Capital’s price target suggests a potential upside of 43.63% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Cowen lifted their price objective on shares of Inseego from $8.00 to $9.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Lake Street Capital reduced their price objective on shares of Inseego from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Canaccord Genuity reiterated a “buy” rating and issued a $7.50 price objective on shares of Inseego in a research note on Thursday, March 12th. Zacks Investment Research upgraded shares of Inseego from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Northland Securities reiterated a “buy” rating and issued a $8.00 price objective on shares of Inseego in a research note on Thursday, January 9th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Inseego presently has a consensus rating of “Buy” and a consensus price target of $8.07.

Shares of INSG stock opened at $6.44 on Wednesday. The company has a 50 day moving average of $6.82 and a 200-day moving average of $6.32. Inseego has a 12-month low of $3.61 and a 12-month high of $9.75. The firm has a market cap of $628.63 million, a P/E ratio of -12.38 and a beta of 1.08.

Inseego (NASDAQ:INSG) last issued its quarterly earnings results on Wednesday, March 11th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). The firm had revenue of $52.30 million for the quarter, compared to the consensus estimate of $51.91 million. During the same period in the prior year, the firm posted $0.02 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year. Equities research analysts anticipate that Inseego will post -0.38 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in INSG. Quantbot Technologies LP bought a new position in Inseego in the 4th quarter valued at $27,000. Point72 Hong Kong Ltd boosted its holdings in Inseego by 6,363.7% in the 4th quarter. Point72 Hong Kong Ltd now owns 7,304 shares of the technology company’s stock valued at $54,000 after purchasing an additional 7,191 shares during the period. Victory Capital Management Inc. boosted its holdings in Inseego by 36.3% in the 4th quarter. Victory Capital Management Inc. now owns 8,114 shares of the technology company’s stock valued at $54,000 after purchasing an additional 2,160 shares during the period. Americana Partners LLC bought a new position in Inseego in the 4th quarter valued at $73,000. Finally, Metropolitan Life Insurance Co NY bought a new position in Inseego in the 3rd quarter valued at $74,000. Institutional investors and hedge funds own 38.51% 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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Analyst Recommendations for Inseego (NASDAQ:INSG)

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