Inseego (NASDAQ:INSG - Free Report) had its target price cut by Stifel Nicolaus from $11.00 to $8.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a hold rating on the technology company's stock.
Inseego Price Performance
INSG stock traded up $0.48 during midday trading on Thursday, reaching $7.43. 29,788 shares of the stock were exchanged, compared to its average volume of 196,370. Inseego has a 52 week low of $2.92 and a 52 week high of $20.67. The company has a fifty day moving average price of $9.25 and a 200 day moving average price of $12.06. The stock has a market capitalization of $111.42 million, a PE ratio of -11.90 and a beta of 1.79.
Inseego (NASDAQ:INSG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The technology company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.06). Inseego had a net margin of 2.22% and a negative return on equity of 4.08%. The firm had revenue of $48.09 million for the quarter, compared to analyst estimates of $45.56 million. As a group, analysts anticipate that Inseego will post -0.06 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Inseego
Hedge funds have recently modified their holdings of the business. Barclays PLC lifted its holdings in Inseego by 71.3% during the 3rd quarter. Barclays PLC now owns 4,051 shares of the technology company's stock worth $67,000 after buying an additional 1,686 shares during the period. BNP Paribas Financial Markets increased its position in Inseego by 258.1% during the 4th quarter. BNP Paribas Financial Markets now owns 4,924 shares of the technology company's stock valued at $51,000 after purchasing an additional 3,549 shares during the period. Lazard Asset Management LLC raised its holdings in Inseego by 2,862.7% during the 4th quarter. Lazard Asset Management LLC now owns 5,244 shares of the technology company's stock worth $53,000 after purchasing an additional 5,067 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Inseego in the 4th quarter worth approximately $60,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Inseego by 655.1% in the 4th quarter. Wells Fargo & Company MN now owns 8,080 shares of the technology company's stock valued at $83,000 after purchasing an additional 7,010 shares during the last quarter. Institutional investors and hedge funds own 34.20% of the company's stock.
Inseego Company Profile
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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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