Inseego (NASDAQ:INSG – Get Free Report) posted its quarterly earnings data on Tuesday. The technology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.20), reports. The business had revenue of $54.03 million for the quarter, compared to the consensus estimate of $56.30 million. Inseego updated its Q4 2024 guidance to EPS.
Inseego Stock Performance
Shares of NASDAQ:INSG opened at $12.60 on Thursday. The company’s fifty day moving average is $17.59 and its two-hundred day moving average is $12.25. Inseego has a 1-year low of $1.62 and a 1-year high of $20.67. The stock has a market capitalization of $154.73 million, a price-to-earnings ratio of -6.02 and a beta of 1.60.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. Covestor Ltd acquired a new position in Inseego in the third quarter valued at approximately $32,000. Olympiad Research LP acquired a new position in Inseego during the 3rd quarter valued at approximately $184,000. Dynamic Technology Lab Private Ltd bought a new position in Inseego during the 3rd quarter worth $353,000. Renaissance Technologies LLC acquired a new stake in Inseego in the second quarter worth $274,000. Finally, Marshall Wace LLP acquired a new stake in Inseego in the second quarter worth $833,000. 34.20% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Read Our Latest Stock Report on Inseego
About Inseego
Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.
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