Inseego Corp. (INSG) PT Raised to $1.75

Inseego Corp. (NASDAQ:INSG) had its target price boosted by analysts at Canaccord Genuity from $1.50 to $1.75 in a research note issued on Friday. The brokerage currently has a “hold” rating on the technology company’s stock. Canaccord Genuity’s price objective suggests a potential upside of 23.24% from the stock’s previous close.

INSG has been the topic of several other reports. Northland Securities set a $2.00 price target on Inseego Corp. and gave the stock a “buy” rating in a research report on Monday, August 14th. Zacks Investment Research lowered Inseego Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 29th.

Shares of Inseego Corp. (NASDAQ INSG) traded down $0.04 during trading hours on Friday, hitting $1.42. The stock had a trading volume of 247,404 shares, compared to its average volume of 277,372. The company has a debt-to-equity ratio of -2.62, a current ratio of 0.79 and a quick ratio of 0.52. Inseego Corp. has a 1-year low of $0.87 and a 1-year high of $3.23.

Inseego Corp. (NASDAQ:INSG) last issued its earnings results on Monday, August 7th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.21). The firm had revenue of $59.91 million for the quarter, compared to analysts’ expectations of $55.11 million. sell-side analysts forecast that Inseego Corp. will post -0.82 EPS for the current year.

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An institutional investor recently raised its position in Inseego Corp. stock. Goldman Sachs Group Inc. increased its stake in shares of Inseego Corp. (NASDAQ:INSG) by 2,239.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 696,502 shares of the technology company’s stock after acquiring an additional 666,732 shares during the period. Goldman Sachs Group Inc. owned approximately 1.21% of Inseego Corp. worth $1,456,000 at the end of the most recent reporting period. 9.89% of the stock is owned by hedge funds and other institutional investors.

Inseego Corp. Company Profile

Novatel Wireless, Inc is a provider of intelligent wireless solutions for the mobile communications market. The Company’s range of products includes intelligent mobile hotspots, universal serial bus (USB) modems, embedded modules, integrated asset-management and mobile tracking machine-to-machine (M2M) devices, communications and applications software and cloud services.

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