Inseego (NASDAQ:INSG) Upgraded to Strong-Buy at Roth Capital

Inseego (NASDAQ:INSG) was upgraded by equities researchers at Roth Capital from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on INSG. Stifel Nicolaus lifted their price target on shares of Inseego from $11.00 to $17.00 and gave the company a “hold” rating in a research report on Tuesday, September 17th. Roth Mkm raised shares of Inseego from a “neutral” rating to a “buy” rating and lifted their price target for the company from $13.00 to $15.00 in a research report on Thursday. Finally, TD Cowen lifted their price target on shares of Inseego from $13.50 to $15.00 and gave the company a “hold” rating in a research report on Wednesday, August 14th.

Inseego Stock Performance

Shares of Inseego stock opened at $12.31 on Thursday. Inseego has a 52-week low of $1.62 and a 52-week high of $20.67. The stock has a market capitalization of $151.17 million, a price-to-earnings ratio of -6.84 and a beta of 1.60. The company has a fifty day moving average of $17.59 and a 200-day moving average of $12.25.

Inseego (NASDAQ:INSG) last announced its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.20). The business had revenue of $54.03 million for the quarter, compared to analyst estimates of $56.30 million. On average, equities research analysts forecast that Inseego will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INSG. Marshall Wace LLP purchased a new position in Inseego in the second quarter worth about $833,000. Renaissance Technologies LLC bought a new stake in shares of Inseego in the second quarter worth approximately $274,000. Dynamic Technology Lab Private Ltd bought a new stake in Inseego during the third quarter valued at approximately $353,000. Olympiad Research LP bought a new stake in Inseego during the third quarter valued at approximately $184,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Inseego during the third quarter valued at approximately $73,000. 34.20% of the stock is owned by hedge funds and other institutional investors.

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.