Inseego (INSG) Trading 8.1% Higher

Inseego Corp (NASDAQ:INSG) traded up 8.1% during trading on Thursday . The company traded as high as $4.00 and last traded at $4.00. 855,386 shares changed hands during trading, an increase of 114% from the average session volume of 399,700 shares. The stock had previously closed at $3.70.

A number of brokerages have commented on INSG. Zacks Investment Research lowered Inseego from a “buy” rating to a “hold” rating in a research report on Saturday. ValuEngine upgraded Inseego from a “hold” rating to a “buy” rating in a research report on Thursday, August 9th. Northland Securities increased their price objective on Inseego from $3.00 to $4.50 and gave the company an “outperform” rating in a research report on Tuesday, September 11th. BidaskClub lowered Inseego from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. Finally, Canaccord Genuity upgraded Inseego from a “hold” rating to a “buy” rating and increased their price objective for the company from $2.25 to $4.50 in a research report on Thursday, September 6th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $4.75.

The stock has a market cap of $267.92 million, a P/E ratio of -5.19 and a beta of 0.37.

Inseego (NASDAQ:INSG) last announced its quarterly earnings data on Tuesday, August 7th. The technology company reported ($0.02) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.02). The firm had revenue of $49.06 million during the quarter, compared to the consensus estimate of $46.44 million. As a group, equities analysts forecast that Inseego Corp will post -0.37 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of INSG. FNY Investment Advisers LLC acquired a new position in shares of Inseego in the 3rd quarter valued at $380,000. ClariVest Asset Management LLC acquired a new position in shares of Inseego in the 3rd quarter valued at $480,000. Engineers Gate Manager LP acquired a new position in shares of Inseego in the 3rd quarter valued at $499,000. Family Management Corp lifted its stake in shares of Inseego by 525.0% in the 2nd quarter. Family Management Corp now owns 262,502 shares of the technology company’s stock valued at $527,000 after purchasing an additional 220,502 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Inseego by 21.6% in the 2nd quarter. Renaissance Technologies LLC now owns 451,900 shares of the technology company’s stock valued at $908,000 after purchasing an additional 80,400 shares during the period. 6.56% of the stock is currently owned by institutional investors.

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Inseego Company Profile (NASDAQ:INSG)

Inseego Corp., together with its subsidiaries, provides software-as-a-service (SaaS), Internet of Things (IoT), and mobile solutions worldwide. The company sells SaaS, software, and service solutions across multiple IoT vertical markets, including fleet management and vehicle telematics, aviation, usage-based insurance, stolen vehicle recovery, asset tracking and monitoring, business connectivity, and subscription management.

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