Inseego (NASDAQ:INSG) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Friday.
INSG has been the subject of several other research reports. ValuEngine upgraded Inseego from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Northland Securities lifted their price objective on Inseego from $3.00 to $4.50 and gave the company an “outperform” rating in a research note on Tuesday, September 11th. Finally, Canaccord Genuity upgraded Inseego from a “hold” rating to a “buy” rating and lifted their price objective for the company from $2.25 to $4.50 in a research note on Thursday, September 6th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $3.83.
Shares of INSG opened at $4.22 on Friday. The company has a debt-to-equity ratio of -2.07, a current ratio of 0.91 and a quick ratio of 0.72. The stock has a market capitalization of $291.82 million, a PE ratio of -5.41 and a beta of 0.28. Inseego has a 1 year low of $1.23 and a 1 year high of $4.43.
Several hedge funds and other institutional investors have recently modified their holdings of INSG. Family Management Corp raised its position in shares of Inseego by 525.0% during the 2nd quarter. Family Management Corp now owns 262,502 shares of the technology company’s stock worth $527,000 after acquiring an additional 220,502 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Inseego by 21.6% during the 2nd quarter. Renaissance Technologies LLC now owns 451,900 shares of the technology company’s stock worth $908,000 after acquiring an additional 80,400 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Inseego by 3.1% during the 2nd quarter. BlackRock Inc. now owns 1,047,118 shares of the technology company’s stock worth $2,105,000 after acquiring an additional 31,469 shares in the last quarter. 6.41% of the stock is currently owned by institutional investors and hedge funds.
Inseego Company Profile
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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