Brokerages Expect Inseego Corp (NASDAQ:INSG) Will Post Earnings of -$0.03 Per Share

Equities analysts predict that Inseego Corp (NASDAQ:INSG) will report ($0.03) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Inseego’s earnings, with the lowest EPS estimate coming in at ($0.03) and the highest estimate coming in at ($0.02). Inseego posted earnings of ($0.01) per share during the same quarter last year, which suggests a negative year over year growth rate of 200%. The firm is scheduled to report its next earnings report on Tuesday, November 5th.

On average, analysts expect that Inseego will report full year earnings of ($0.09) per share for the current financial year, with EPS estimates ranging from ($0.09) to ($0.08). For the next financial year, analysts forecast that the company will post earnings of $0.11 per share, with EPS estimates ranging from $0.09 to $0.12. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Inseego.

Inseego (NASDAQ:INSG) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The firm had revenue of $55.89 million for the quarter, compared to analyst estimates of $53.11 million. The company’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.11) EPS.



A number of brokerages have recently commented on INSG. BidaskClub cut shares of Inseego from a “hold” rating to a “sell” rating in a report on Tuesday. Northland Securities set a $6.00 target price on shares of Inseego and gave the company a “buy” rating in a report on Friday, July 19th. Canaccord Genuity set a $7.00 target price on shares of Inseego and gave the company a “buy” rating in a report on Wednesday, August 7th. ValuEngine raised shares of Inseego from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 15th. Finally, Zacks Investment Research cut shares of Inseego from a “hold” rating to a “strong sell” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $6.07.

In other Inseego news, Director Brian Miller sold 3,900,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $4.80, for a total value of $18,720,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 15.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Traynor Capital Management Inc. grew its stake in shares of Inseego by 25.0% during the 2nd quarter. Traynor Capital Management Inc. now owns 15,000 shares of the technology company’s stock worth $73,000 after purchasing an additional 3,000 shares during the period. Advisory Services Network LLC grew its stake in shares of Inseego by 71.2% during the 2nd quarter. Advisory Services Network LLC now owns 10,820 shares of the technology company’s stock worth $52,000 after purchasing an additional 4,500 shares during the period. Northern Trust Corp grew its stake in shares of Inseego by 4.2% during the 4th quarter. Northern Trust Corp now owns 122,361 shares of the technology company’s stock worth $508,000 after purchasing an additional 4,879 shares during the period. Private Advisor Group LLC grew its stake in shares of Inseego by 41.1% during the 2nd 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. Finally, RVW Wealth LLC acquired a new position in shares of Inseego during the 2nd quarter worth $48,000. 44.83% of the stock is currently owned by institutional investors.

Shares of Inseego stock traded up $0.12 during trading on Friday, reaching $4.03. The company’s stock had a trading volume of 8,722 shares, compared to its average volume of 1,341,516. The company has a 50-day moving average price of $4.81 and a two-hundred day moving average price of $4.85. The firm has a market cap of $332.48 million, a PE ratio of -33.17 and a beta of 0.45. Inseego has a fifty-two week low of $2.33 and a fifty-two week high of $6.00.

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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