Inseego (NASDAQ:INSG) Upgraded by BidaskClub to Strong-Buy

BidaskClub upgraded shares of Inseego (NASDAQ:INSG) from a buy rating to a strong-buy rating in a research report report published on Friday morning, BidAskClub reports.

Several other research analysts have also recently weighed in on the company. Canaccord Genuity boosted their price target on Inseego from $7.00 to $8.50 and gave the stock a buy rating in a research note on Monday, October 28th. Zacks Investment Research upgraded Inseego from a sell rating to a hold rating in a research note on Monday, December 2nd. National Securities cut Inseego to a hold rating and set a $6.50 price target for the company. in a research note on Friday, December 6th. Northland Securities started coverage on Inseego in a research note on Tuesday, November 26th. They issued a buy rating and a $6.00 price target for the company. Finally, ValuEngine cut Inseego from a buy rating to a hold rating in a research note on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $6.67.

Inseego stock traded down $0.16 during mid-day trading on Friday, hitting $7.28. The company had a trading volume of 1,725,954 shares, compared to its average volume of 1,937,796. The stock’s 50 day moving average price is $5.69 and its two-hundred day moving average price is $4.96. Inseego has a 12 month low of $3.50 and a 12 month high of $7.90. The company has a market capitalization of $597.09 million, a PE ratio of -60.67 and a beta of 0.75.

Inseego (NASDAQ:INSG) last released its earnings results on Wednesday, November 6th. The technology company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.08. The company had revenue of $62.72 million during the quarter, compared to the consensus estimate of $59.77 million. During the same period last year, the firm posted ($0.10) earnings per share. The company’s revenue was up 23.9% compared to the same quarter last year. Equities research analysts predict that Inseego will post -0.48 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of INSG. BlackRock Inc. raised its stake in shares of Inseego by 229.2% in the second quarter. BlackRock Inc. now owns 2,918,234 shares of the technology company’s stock worth $13,977,000 after purchasing an additional 2,031,809 shares during the last quarter. Vanguard Group Inc. increased its position in Inseego by 31.5% during the second quarter. Vanguard Group Inc. now owns 2,235,809 shares of the technology company’s stock valued at $10,709,000 after acquiring an additional 535,156 shares during the last quarter. Bank of New York Mellon Corp increased its position in Inseego by 323.7% during the second quarter. Bank of New York Mellon Corp now owns 155,048 shares of the technology company’s stock valued at $742,000 after acquiring an additional 118,450 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Inseego by 666.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 106,603 shares of the technology company’s stock valued at $511,000 after acquiring an additional 92,703 shares during the last quarter. Finally, Family Management Corp increased its position in Inseego by 42.1% during the second quarter. Family Management Corp now owns 299,527 shares of the technology company’s stock valued at $1,435,000 after acquiring an additional 88,802 shares during the last quarter. Hedge funds and other institutional investors own 47.24% of the company’s stock.

Inseego Company Profile

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.

See Also: Liquidity

Analyst Recommendations for Inseego (NASDAQ:INSG)

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