TD Cowen Increases Inseego (NASDAQ:INSG) Price Target to $13.50

Inseego (NASDAQ:INSG) had its price objective hoisted by TD Cowen from $12.00 to $13.50 in a research report report published on Tuesday morning, Benzinga reports. They currently have a hold rating on the technology company’s stock.

Inseego Price Performance

INSG opened at $11.69 on Tuesday. Inseego has a 1 year low of $1.62 and a 1 year high of $13.42. The stock has a 50-day moving average price of $7.42 and a 200-day moving average price of $4.26. The firm has a market cap of $138.88 million, a PE ratio of -2.84 and a beta of 1.60.

Inseego (NASDAQ:INSG) last issued its earnings results on Thursday, May 9th. The technology company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. The firm had revenue of $45.01 million during the quarter, compared to the consensus estimate of $41.40 million. During the same quarter in the prior year, the company posted ($0.50) EPS. As a group, sell-side analysts anticipate that Inseego will post -0.43 EPS for the current year.

Institutional Trading of Inseego

Institutional investors and hedge funds have recently modified their holdings of the business. Braslyn Ltd. bought a new position in shares of Inseego during the fourth quarter valued at $1,675,000. Simplicity Solutions LLC bought a new stake in Inseego in the 4th quarter worth about $1,674,000. GSA Capital Partners LLP raised its position in Inseego by 16.4% in the 3rd quarter. GSA Capital Partners LLP now owns 1,602,866 shares of the technology company’s stock worth $673,000 after buying an additional 225,340 shares during the last quarter. Simplicity Wealth LLC bought a new position in Inseego during the 1st quarter valued at about $2,132,000. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of Inseego by 14.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 207,972 shares of the technology company’s stock valued at $46,000 after acquiring an additional 26,850 shares during the last quarter. Institutional investors own 34.20% of the company’s stock.

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.