Inseego (NASDAQ:INSG)‘s stock had its “buy” rating reissued by equities research analysts at Lake Street Capital in a report released on Monday, The Fly reports. They presently have a $6.50 price objective on the technology company’s stock. Lake Street Capital’s price objective would indicate a potential upside of 12.07% from the company’s current price.
A number of other equities analysts also recently issued reports on the company. Canaccord Genuity restated a “buy” rating and set a $6.50 price objective (up from $5.50) on shares of Inseego in a research report on Friday. ValuEngine upgraded Inseego from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 7th. BidaskClub upgraded Inseego from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 5th. Zacks Investment Research upgraded Inseego from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Wednesday, January 2nd. Finally, Northland Securities restated a “buy” rating and set a $4.50 price objective on shares of Inseego in a research report on Friday, November 30th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $5.50.
Shares of INSG stock traded up $0.16 during mid-day trading on Monday, reaching $5.80. 13,053 shares of the stock traded hands, compared to its average volume of 964,887. Inseego has a 1-year low of $1.63 and a 1-year high of $5.81. The firm has a market capitalization of $408.06 million, a price-to-earnings ratio of -7.37 and a beta of 0.29.
Inseego (NASDAQ:INSG) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.23. The firm had revenue of $50.63 million for the quarter, compared to analyst estimates of $50.59 million. As a group, analysts forecast that Inseego will post -0.14 EPS for the current year.
In other Inseego news, Director Jeffrey Tuder sold 26,353 shares of Inseego stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $3.66, for a total value of $96,451.98. Following the completion of the sale, the director now directly owns 110,765 shares in the company, valued at $405,399.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Harbor Ltd. Golden bought 9,752,729 shares of the stock in a transaction on Wednesday, December 19th. The stock was acquired at an average price of $3.00 per share, with a total value of $29,258,187.00. The disclosure for this purchase can be found here. Insiders have sold 154,191 shares of company stock valued at $569,966 over the last 90 days. 1.30% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. PEAK6 Investments LLC bought a new stake in Inseego in the third quarter worth approximately $106,000. Jane Street Group LLC bought a new stake in Inseego in the third quarter worth approximately $134,000. Virtu Financial LLC bought a new stake in Inseego in the third quarter worth approximately $156,000. FNY Investment Advisers LLC bought a new stake in Inseego in the third quarter worth approximately $380,000. Finally, ClariVest Asset Management LLC bought a new stake in Inseego in the third quarter worth approximately $480,000. Institutional investors and hedge funds own 25.26% of the company’s stock.
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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