Inseego’s (INSG) “Buy” Rating Reiterated at Northland Securities

Inseego (NASDAQ:INSG)‘s stock had its “buy” rating reissued by equities researchers at Northland Securities in a research note issued to investors on Friday. They presently have a $4.50 price target on the technology company’s stock. Northland Securities’ target price points to a potential upside of 20.97% from the company’s current price.

The analysts wrote, “We marketed with Inseego management this week, coming away much more confident in new customer opportunities, overall execution, and the potential for growth acceleration in FY19. We believe Inseego is not just having success with tier 1 operators in the N. America, but also internationally.””

A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Inseego from a “buy” rating to a “hold” rating in a research note on Saturday, November 10th. Lake Street Capital set a $5.00 price target on Inseego and gave the company a “buy” rating in a research note on Wednesday, November 7th. BidaskClub cut Inseego from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Roth Capital assumed coverage on Inseego in a research note on Friday, October 12th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, Canaccord Genuity restated a “buy” rating and issued a $5.00 price target (up previously from $4.50) on shares of Inseego in a research note on Monday, September 17th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $4.75.

INSG opened at $3.72 on Friday. Inseego has a 1-year low of $1.50 and a 1-year high of $4.49. The firm has a market capitalization of $283.29 million, a P/E ratio of -4.77 and a beta of 0.37.

Inseego (NASDAQ:INSG) last posted its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.23. The business had revenue of $50.63 million during the quarter, compared to the consensus estimate of $50.59 million. On average, equities analysts expect that Inseego will post -0.14 earnings per share for the current year.

In other Inseego news, Director Jeffrey Tuder sold 26,353 shares of the company’s stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $3.66, for a total value of $96,451.98. Following the transaction, the director now directly owns 110,765 shares of the company’s stock, valued at approximately $405,399.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 154,191 shares of company stock worth $569,966. Insiders own 1.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Family Management Corp grew its holdings in 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 buying an additional 220,502 shares in the last quarter. BlackRock Inc. grew its holdings in Inseego by 3.1% in the 2nd quarter. BlackRock Inc. now owns 1,047,118 shares of the technology company’s stock valued at $2,105,000 after buying an additional 31,469 shares in the last quarter. Renaissance Technologies LLC grew its holdings in 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 buying an additional 80,400 shares in the last quarter. EAM Investors LLC acquired a new position in Inseego in the 3rd quarter valued at $1,117,000. Finally, Engineers Gate Manager LP acquired a new position in Inseego in the 3rd quarter valued at $499,000. 10.51% of the stock is currently owned by hedge funds and other institutional investors.

About Inseego

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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