Inseego (INSG) Upgraded to “Strong-Buy” by ValuEngine

Share on StockTwits

ValuEngine upgraded shares of Inseego (NASDAQ:INSG) from a buy rating to a strong-buy rating in a research report sent to investors on Monday morning.

Other analysts have also issued reports about the stock. BidaskClub upgraded shares of Inseego from a hold rating to a buy rating in a research note on Tuesday, December 25th. Roth Capital started coverage on shares of Inseego in a research note on Friday, October 12th. They issued a buy rating and a $5.00 price target for the company. Canaccord Genuity reiterated a buy rating and issued a $5.00 price target (up from $4.50) on shares of Inseego in a research note on Monday, September 17th. Zacks Investment Research upgraded shares of Inseego from a hold rating to a buy rating and set a $4.25 target price for the company in a research report on Friday, November 9th. Finally, Lake Street Capital set a $5.00 target price on shares of Inseego and gave the company a buy rating in a research report on Wednesday, November 7th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $4.90.

Shares of INSG stock traded up $0.31 during trading hours on Monday, reaching $5.41. The company had a trading volume of 42,485 shares, compared to its average volume of 822,147. Inseego has a one year low of $1.61 and a one year high of $5.44. The firm has a market capitalization of $372.83 million, a PE ratio of -6.96 and a beta of 0.29.

Inseego (NASDAQ:INSG) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.23. The company had revenue of $50.63 million during the quarter, compared to the consensus estimate of $50.59 million. Sell-side analysts forecast that Inseego will post -0.14 EPS for the current year.

In other news, major shareholder Harbor Ltd. Golden purchased 9,752,729 shares of the stock in a transaction on Wednesday, December 19th. The shares were acquired at an average price of $3.00 per share, with a total value of $29,258,187.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Tuder sold 12,685 shares of Inseego stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $3.70, for a total transaction of $46,934.50. Following the transaction, the director now directly owns 126,413 shares in the company, valued at approximately $467,728.10. The disclosure for this sale can be found here. Insiders have sold 154,191 shares of company stock valued at $569,966 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the business. PEAK6 Investments LLC purchased a new position in Inseego during the third quarter valued at approximately $106,000. Jane Street Group LLC purchased a new position in Inseego during the third quarter valued at approximately $134,000. Virtu Financial LLC purchased a new position in Inseego during the third quarter valued at approximately $156,000. FNY Investment Advisers LLC purchased a new position in Inseego during the third quarter valued at approximately $380,000. Finally, ClariVest Asset Management LLC purchased a new position in Inseego during the third quarter valued at approximately $480,000. 25.26% of the stock is currently owned by institutional investors and hedge funds.

Inseego Company Profile

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.

Recommended Story: What is a front-end load?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Inseego Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inseego and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply