Inseego (NASDAQ:INSG) Upgraded to Buy at Roth Mkm

Inseego (NASDAQ:INSG - Get Free Report) was upgraded by analysts at Roth Mkm from a "neutral" rating to a "buy" rating in a research note issued on Thursday, MarketBeat.com reports. The brokerage currently has a $15.00 price objective on the technology company's stock, up from their prior price objective of $13.00. Roth Mkm's price objective points to a potential upside of 25.73% from the stock's previous close.

INSG has been the subject of a number of other research reports. TD Cowen boosted their price target on Inseego from $13.50 to $15.00 and gave the company a "hold" rating in a research report on Wednesday, August 14th. Stifel Nicolaus upped their price objective on Inseego from $11.00 to $17.00 and gave the company a "hold" rating in a research note on Tuesday, September 17th.

Inseego Stock Up 10.2 %

Shares of INSG stock traded up $1.10 during mid-day trading on Thursday, hitting $11.93. 636,675 shares of the stock were exchanged, compared to its average volume of 182,337. The company has a market cap of $146.50 million, a PE ratio of -6.77 and a beta of 1.60. The firm has a fifty day moving average of $17.59 and a 200 day moving average of $12.25. Inseego has a 52-week low of $1.62 and a 52-week high of $20.67.

Inseego (NASDAQ:INSG - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.20). The firm had revenue of $54.03 million for the quarter, compared to analysts' expectations of $56.30 million. Equities analysts predict that Inseego will post -0.11 EPS for the current year.

Institutional Investors Weigh In On Inseego

Several hedge funds have recently modified their holdings of the stock. Covestor Ltd purchased a new stake in Inseego in the 3rd quarter worth about $32,000. Olympiad Research LP purchased a new stake in Inseego in the 3rd quarter worth about $184,000. Renaissance Technologies LLC purchased a new stake in Inseego in the 2nd quarter worth about $274,000. Dynamic Technology Lab Private Ltd purchased a new stake in Inseego in the 3rd quarter worth about $353,000. Finally, Marshall Wace LLP purchased a new stake in Inseego in the 2nd quarter worth about $833,000. 34.20% of the stock is owned by hedge funds and other institutional investors.

Inseego Company Profile

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.