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

Inseego (NASDAQ:INSG) was upgraded by equities research analysts 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.

INSG has been the subject of a number of other reports. Roth Mkm upgraded shares of Inseego from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $15.00 in a research note on Thursday. TD Cowen upped their target price on shares of Inseego from $13.50 to $15.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Finally, Stifel Nicolaus upped their target price on shares of Inseego from $11.00 to $17.00 and gave the company a “hold” rating in a report on Tuesday, September 17th.

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 firm has a fifty day moving average of $17.59 and a two-hundred day moving average of $12.25.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in shares of Inseego in the second quarter valued at approximately $833,000. Renaissance Technologies LLC bought a new stake in Inseego during the 2nd quarter worth approximately $274,000. Dynamic Technology Lab Private Ltd bought a new stake in Inseego during the 3rd quarter worth approximately $353,000. Olympiad Research LP bought a new stake in Inseego during the 3rd quarter worth approximately $184,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Inseego during the 3rd quarter worth approximately $73,000. 34.20% of the stock is currently 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.