Wall Street analysts forecast that Inseego Corp (NASDAQ:INSG) will post earnings of ($0.08) per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Inseego’s earnings. The lowest EPS estimate is ($0.08) and the highest is ($0.07). Inseego posted earnings of $0.02 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 500%. The business is expected to issue its next quarterly earnings report on Thursday, March 5th.
According to Zacks, analysts expect that Inseego will report full-year earnings of ($0.19) per share for the current year, with EPS estimates ranging from ($0.19) to ($0.18). For the next financial year, analysts expect that the business will report earnings of ($0.01) per share, with EPS estimates ranging from ($0.05) to $0.04. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Inseego.
Inseego (NASDAQ:INSG) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. The firm had revenue of $62.72 million during the quarter, compared to analyst estimates of $59.77 million. The company’s revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.10) EPS.
A number of brokerages have weighed in on INSG. BidaskClub upgraded shares of Inseego from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Northland Securities began coverage on shares of Inseego in a research report on Tuesday, November 26th. They issued a “buy” rating and a $6.00 price objective for the company. Zacks Investment Research upgraded shares of Inseego from a “sell” rating to a “hold” rating in a research report on Monday, December 2nd. ValuEngine cut shares of Inseego from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Canaccord Genuity boosted their target price on shares of Inseego from $7.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $6.67.
Hedge funds have recently added to or reduced their stakes in the company. Wedbush Securities Inc. purchased a new stake in shares of Inseego during the third quarter worth about $48,000. Advisory Services Network LLC grew its stake in Inseego by 71.2% during the 2nd quarter. Advisory Services Network LLC now owns 10,820 shares of the technology company’s stock valued at $52,000 after acquiring an additional 4,500 shares in the last quarter. MAI Capital Management purchased a new stake in Inseego during the 3rd quarter valued at about $58,000. Traynor Capital Management Inc. grew its stake in Inseego by 25.0% during the 2nd quarter. Traynor Capital Management Inc. now owns 15,000 shares of the technology company’s stock valued at $73,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY purchased a new stake in Inseego during the 3rd quarter valued at about $74,000. 47.24% of the stock is owned by institutional investors and hedge funds.
Shares of Inseego stock traded up $0.38 during trading hours on Tuesday, reaching $7.25. The stock had a trading volume of 2,554,464 shares, compared to its average volume of 1,104,987. The stock’s 50 day moving average is $5.58 and its 200 day moving average is $4.92. The firm has a market capitalization of $555.42 million, a PE ratio of -60.42 and a beta of 0.75. Inseego has a twelve month low of $3.50 and a twelve month high of $7.25.
Inseego Corp. engages in the design and development of mobile, Internet of Things (IoT), and cloud solutions for large enterprise verticals, service providers, and small and medium-sized businesses worldwide. The company provides wireless 3G, 4G, and 5G hardware products that address various markets, including fleet and commercial telematics, aftermarket telematics, smart city infrastructure management, remote monitoring and control, wireless surveillance systems, security and connected home and fixed wireless access, and mobile broadband devices.
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