Inseego (NASDAQ:INSG) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Inseego (NASDAQ:INSG) from a buy rating to a hold rating in a report published on Thursday.

Separately, Stifel Nicolaus decreased their price objective on Inseego from $11.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Inseego Stock Down 3.1%

Shares of Inseego stock opened at $8.24 on Thursday. The firm has a market capitalization of $123.67 million, a P/E ratio of -13.29 and a beta of 1.15. Inseego has a 52 week low of $6.24 and a 52 week high of $20.67. The firm’s 50 day moving average is $8.10 and its two-hundred day moving average is $10.49.

Inseego (NASDAQ:INSG) last announced its quarterly earnings results on Wednesday, February 19th. The technology company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.06). The company had revenue of $48.09 million during the quarter, compared to analysts’ expectations of $45.56 million. Inseego had a net margin of 2.22% and a negative return on equity of 4.08%. As a group, research analysts expect that Inseego will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inseego

Large investors have recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of Inseego by 71.3% in the third quarter. Barclays PLC now owns 4,051 shares of the technology company’s stock valued at $67,000 after acquiring an additional 1,686 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Inseego by 258.1% in the fourth quarter. BNP Paribas Financial Markets now owns 4,924 shares of the technology company’s stock valued at $51,000 after acquiring an additional 3,549 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Inseego by 2,862.7% in the fourth quarter. Lazard Asset Management LLC now owns 5,244 shares of the technology company’s stock valued at $53,000 after acquiring an additional 5,067 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Inseego during the fourth quarter worth $60,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Inseego by 655.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,080 shares of the technology company’s stock worth $83,000 after purchasing an additional 7,010 shares during the period. 34.20% of the stock is owned by institutional investors and hedge funds.

Inseego Company Profile

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.