Lake Street Capital set a $5.00 price target on Inseego (NASDAQ:INSG) in a research note published on Wednesday, The Fly reports. The brokerage currently has a buy rating on the technology company’s stock.
Several other analysts also recently commented on the stock. BidaskClub raised shares of Inseego from a buy rating to a strong-buy rating in a research report on Friday, September 14th. Canaccord Genuity reissued a buy rating and set a $5.00 price objective (up from $4.50) on shares of Inseego in a research report on Monday, September 17th. Northland Securities increased their price objective on shares of Inseego from $3.00 to $4.50 and gave the company an outperform rating in a research report on Tuesday, September 11th. Roth Capital started coverage on shares of Inseego in a research report on Friday, October 12th. They set a buy rating and a $5.00 price objective on the stock. Finally, ValuEngine raised shares of Inseego from a hold rating to a buy rating in a report on Thursday, August 9th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Inseego currently has an average rating of Buy and a consensus target price of $4.75.
INSG stock traded up $0.05 during trading on Wednesday, hitting $4.05. 636,135 shares of the stock traded hands, compared to its average volume of 392,482. Inseego has a 1 year low of $1.27 and a 1 year high of $4.49. The company has a market capitalization of $267.92 million, a price-to-earnings ratio of -5.19 and a beta of 0.37.
Inseego (NASDAQ:INSG) last announced its quarterly earnings data on Tuesday, August 7th. The technology company reported ($0.02) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). The firm had revenue of $49.06 million for the quarter, compared to analysts’ expectations of $46.44 million. As a group, analysts anticipate that Inseego will post -0.37 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in INSG. FNY Investment Advisers LLC purchased a new stake in shares of Inseego during the 3rd quarter valued at about $380,000. ClariVest Asset Management LLC bought a new stake in Inseego during the 3rd quarter worth approximately $480,000. Engineers Gate Manager LP bought a new stake in Inseego during the 3rd quarter worth approximately $499,000. Family Management Corp raised its stake in Inseego by 525.0% during the 2nd quarter. Family Management Corp now owns 262,502 shares of the technology company’s stock worth $527,000 after acquiring an additional 220,502 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Inseego by 21.6% during the second quarter. Renaissance Technologies LLC now owns 451,900 shares of the technology company’s stock valued at $908,000 after buying an additional 80,400 shares during the last quarter. 6.56% of the stock is currently owned by hedge funds and other institutional investors.
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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