Inseego (NASDAQ:INSG) PT Raised to $13.50 at TD Cowen

Inseego (NASDAQ:INSG) had its target price lifted by investment analysts at TD Cowen from $12.00 to $13.50 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. TD Cowen’s price objective would suggest a potential upside of 15.48% from the company’s current price.

Inseego Stock Performance

Shares of NASDAQ INSG opened at $11.69 on Tuesday. The stock has a fifty day moving average price of $7.42 and a two-hundred day moving average price of $4.26. The firm has a market cap of $138.91 million, a P/E ratio of -2.84 and a beta of 1.60. Inseego has a 1 year low of $1.62 and a 1 year high of $13.42.

Inseego (NASDAQ:INSG) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The firm had revenue of $45.01 million for the quarter, compared to the consensus estimate of $41.40 million. During the same period in the previous year, the business posted ($0.50) earnings per share. On average, research analysts predict that Inseego will post -0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inseego

Large investors have recently modified their holdings of the stock. Stratos Wealth Partners LTD. boosted its stake 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 worth $46,000 after acquiring an additional 26,850 shares in the last quarter. Simplicity Wealth LLC bought a new stake in shares of Inseego during the 1st quarter worth $2,132,000. GSA Capital Partners LLP boosted its stake in shares of Inseego by 16.4% during the 3rd quarter. GSA Capital Partners LLP now owns 1,602,866 shares of the technology company’s stock worth $673,000 after acquiring an additional 225,340 shares in the last quarter. Braslyn Ltd. bought a new stake in shares of Inseego during the 4th quarter worth $1,675,000. Finally, Simplicity Solutions LLC bought a new stake in shares of Inseego during the 4th quarter worth $1,674,000. 34.20% of the stock is owned by institutional investors.

Inseego Company Profile

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.