Inseego (NASDAQ:INSG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Inseego (NASDAQ:INSG) from a strong sell rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other research firms also recently issued reports on INSG. Roth Capital restated a “buy” rating on shares of Inseego in a research report on Friday, August 7th. Weiss Ratings lowered shares of Inseego from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 21st. Lake Street Capital set a $12.00 price objective on shares of Inseego in a research report on Thursday, August 6th. Zacks Research upgraded shares of Inseego from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 6th. Finally, UBS Group set a $9.00 price objective on shares of Inseego in a research note on Thursday, August 6th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.00.

Inseego Price Performance

INSG stock opened at $4.53 on Friday. The stock’s 50 day simple moving average is $4.30 and its 200 day simple moving average is $9.30. Inseego has a 12-month low of $3.58 and a 12-month high of $21.90.

Inseego (NASDAQ:INSG) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The business had revenue of $43.98 million for the quarter, compared to analysts’ expectations of $39.90 million. On average, sell-side analysts forecast that Inseego will post -1.39 earnings per share for the current year.

Institutional Trading of Inseego

Hedge funds have recently bought and sold shares of the company. Engineers Gate Manager LP acquired a new position in Inseego during the 2nd quarter valued at about $115,000. AXQ Capital LP acquired a new stake in shares of Inseego in the second quarter valued at approximately $128,000. Bank of New York Mellon Corp acquired a new stake in shares of Inseego in the second quarter valued at approximately $290,000. WINTON GROUP Ltd raised its holdings in shares of Inseego by 138.3% during the second quarter. WINTON GROUP Ltd now owns 36,387 shares of the technology company’s stock valued at $376,000 after buying an additional 21,119 shares during the last quarter. Finally, Militia Capital Management LLC bought a new stake in shares of Inseego during the first quarter valued at approximately $518,000. 34.20% of the stock is currently owned by institutional investors.

Inseego Company Profile

Inseego Corp. develops wireless broadband and mobile networking solutions for service providers, enterprises, small businesses, government organizations and consumers. The company focuses on connecting devices, locations and users through cellular networks, with an emphasis on 5G and other high-speed wireless technologies.

Its product portfolio includes mobile hotspots, fixed wireless access equipment, indoor and outdoor customer-premises equipment, routers and gateways. Inseego also provides cloud-based device management and networking software designed to help customers provision, monitor and manage connected equipment.