BidaskClub Lowers Inseego (NASDAQ:INSG) to Sell

BidaskClub downgraded shares of Inseego (NASDAQ:INSG) from a hold rating to a sell rating in a research report report published on Tuesday morning, BidAskClub reports.

INSG has been the topic of a number of other reports. Zacks Investment Research lowered shares of Inseego from a hold rating to a strong sell rating in a research note on Tuesday. Northland Securities set a $6.00 target price on shares of Inseego and gave the stock a buy rating in a research note on Friday, July 19th. Cowen initiated coverage on shares of Inseego in a research note on Friday, May 24th. They issued an outperform rating and a $8.00 target price on the stock. Canaccord Genuity set a $7.00 target price on shares of Inseego and gave the stock a buy rating in a research note on Wednesday, August 7th. Finally, ValuEngine raised shares of Inseego from a buy rating to a strong-buy rating in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $6.07.

INSG opened at $3.91 on Tuesday. The company’s 50 day simple moving average is $4.81 and its two-hundred day simple moving average is $4.85. Inseego has a 1-year low of $2.33 and a 1-year high of $6.00. The firm has a market capitalization of $332.48 million, a price-to-earnings ratio of -32.58 and a beta of 0.45.



Inseego (NASDAQ:INSG) last released its earnings results on Tuesday, August 6th. The technology company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.06). The business had revenue of $55.89 million for the quarter, compared to analyst estimates of $53.11 million. During the same quarter last year, the business earned ($0.11) earnings per share. Inseego’s quarterly revenue was up 13.9% on a year-over-year basis. On average, sell-side analysts forecast that Inseego will post -0.44 EPS for the current year.

In other news, Director Brian Miller sold 3,900,000 shares of Inseego stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $4.80, for a total transaction of $18,720,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.20% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC lifted its stake in shares of Inseego by 175.4% during the second quarter. Jane Street Group LLC now owns 120,815 shares of the technology company’s stock valued at $579,000 after buying an additional 76,954 shares during the period. Cubist Systematic Strategies LLC raised its stake in Inseego by 132.4% during the second quarter. Cubist Systematic Strategies LLC now owns 73,404 shares of the technology company’s stock worth $352,000 after purchasing an additional 41,824 shares during the period. Family Management Corp raised its stake in Inseego by 42.1% during the second quarter. Family Management Corp now owns 299,527 shares of the technology company’s stock worth $1,435,000 after purchasing an additional 88,802 shares during the period. Vanguard Group Inc. raised its stake in Inseego by 31.5% during the second quarter. Vanguard Group Inc. now owns 2,235,809 shares of the technology company’s stock worth $10,709,000 after purchasing an additional 535,156 shares during the period. Finally, Private Advisor Group LLC raised its stake in Inseego by 41.1% during the second quarter. Private Advisor Group LLC now owns 22,407 shares of the technology company’s stock worth $107,000 after purchasing an additional 6,530 shares during the period. 44.83% of the stock is currently owned by hedge funds and other institutional investors.

About Inseego

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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Analyst Recommendations for Inseego (NASDAQ:INSG)

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