TD Cowen Boosts Inseego (NASDAQ:INSG) Price Target to $15.00

Inseego (NASDAQ:INSG) had its price target hoisted by analysts at TD Cowen from $14.00 to $15.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. TD Cowen’s price target would suggest a potential upside of 29.25% from the stock’s current price.

Several other brokerages also recently issued reports on INSG. Stifel Nicolaus set a $14.00 target price on Inseego and gave the company a “hold” rating in a research note on Friday, October 17th. Cowen reiterated a “hold” rating on shares of Inseego in a research report on Thursday. Lake Street Capital began coverage on shares of Inseego in a report on Monday, December 15th. They issued a “buy” rating and a $17.00 target price on the stock. Wall Street Zen raised shares of Inseego from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, Craig Hallum set a $20.00 price target on shares of Inseego and gave the company a “buy” rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $16.50.

Inseego Stock Performance

Shares of NASDAQ INSG traded up $0.93 during midday trading on Thursday, reaching $11.61. The stock had a trading volume of 164,781 shares, compared to its average volume of 138,398. The company has a market capitalization of $177.90 million, a price-to-earnings ratio of -44.33 and a beta of 1.14. Inseego has a 12-month low of $6.24 and a 12-month high of $18.11. The stock has a 50-day moving average of $11.09 and a 200-day moving average of $11.40.

Inseego (NASDAQ:INSG) last issued its earnings results on Friday, November 7th. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.16). The firm had revenue of $45.89 million during the quarter, compared to the consensus estimate of $41.86 million. Inseego had a negative return on equity of 8.87% and a negative net margin of 0.12%. As a group, analysts forecast that Inseego will post -0.06 EPS for the current fiscal year.

Institutional Trading of Inseego

Several institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its holdings in Inseego by 129.3% during the third quarter. BNP Paribas Financial Markets now owns 2,708 shares of the technology company’s stock valued at $41,000 after buying an additional 1,527 shares during the period. Stratos Wealth Partners LTD. raised its position in shares of Inseego by 5.5% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 32,375 shares of the technology company’s stock worth $485,000 after acquiring an additional 1,700 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Inseego in the 2nd quarter worth $28,000. Bank of America Corp DE lifted its stake in shares of Inseego by 134.3% during the 2nd quarter. Bank of America Corp DE now owns 5,870 shares of the technology company’s stock worth $48,000 after purchasing an additional 3,365 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its stake in Inseego by 23.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 19,313 shares of the technology company’s stock valued at $158,000 after purchasing an additional 3,685 shares during the last quarter. 34.20% of the stock is currently owned by institutional investors.

Inseego Company Profile

Inseego Corp is a U.S.-based technology company specializing in 5G and intelligent Internet of Things (IoT) device-to-cloud solutions. The company develops hardware and software platforms designed to connect devices, vehicles and remote locations to high-speed wireless networks. Its core offerings include mobile hotspots, fixed wireless access gateways and ruggedized routers optimized for enterprise, industrial and government applications.

Inseego’s product portfolio encompasses 5G MiFi® mobile hotspots, virtual network functions (VNFs) for network management, telematics devices for fleet tracking and asset monitoring, as well as a suite of cloud-native software for device lifecycle management and data analytics.