Shares of Inseego Corp (NASDAQ:INSG) have earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $7.10.
A number of equities analysts recently commented on the company. ValuEngine downgraded Inseego from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. BidaskClub upgraded Inseego from a “buy” rating to a “strong-buy” rating in a report on Friday. National Securities downgraded Inseego to a “hold” rating and set a $6.50 price objective on the stock. in a report on Friday, December 6th. Canaccord Genuity increased their price objective on Inseego from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Zacks Investment Research upgraded Inseego from a “sell” rating to a “hold” rating in a report on Monday, December 2nd.
Shares of INSG opened at $7.28 on Wednesday. The company has a market capitalization of $585.04 million, a price-to-earnings ratio of -60.67 and a beta of 0.75. Inseego has a fifty-two week low of $3.50 and a fifty-two week high of $7.90. The business’s 50-day moving average is $5.69 and its 200-day moving average is $4.96.
A number of large investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY acquired a new position in Inseego in the third quarter worth approximately $74,000. Millennium Management LLC acquired a new position in Inseego in the third quarter worth approximately $118,000. Penserra Capital Management LLC increased its holdings in Inseego by 25.0% in the third quarter. Penserra Capital Management LLC now owns 119,348 shares of the technology company’s stock worth $572,000 after buying an additional 23,864 shares during the last quarter. California State Teachers Retirement System increased its holdings in Inseego by 8.6% in the third quarter. California State Teachers Retirement System now owns 74,507 shares of the technology company’s stock worth $358,000 after buying an additional 5,898 shares during the last quarter. Finally, State Street Corp boosted its position in Inseego by 11.8% during the third quarter. State Street Corp now owns 821,243 shares of the technology company’s stock worth $3,942,000 after purchasing an additional 86,996 shares during the period. Hedge funds and other institutional investors own 47.24% of the company’s stock.
Inseego Corp. engages in the design and development of mobile, Internet of Things (IoT), and cloud solutions for large enterprise verticals, service providers, and small and medium-sized businesses worldwide. The company provides wireless 3G, 4G, and 5G hardware products that address various markets, including fleet and commercial telematics, aftermarket telematics, smart city infrastructure management, remote monitoring and control, wireless surveillance systems, security and connected home and fixed wireless access, and mobile broadband devices.
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