Shares of Inseego Corp. (NASDAQ:INSG – Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.91 and traded as high as $17.83. Inseego shares last traded at $16.33, with a volume of 268,206 shares trading hands.
Wall Street Analysts Forecast Growth
INSG has been the subject of a number of analyst reports. Stifel Nicolaus raised their price target on Inseego from $11.00 to $17.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th. TD Cowen raised their price objective on Inseego from $13.50 to $15.00 and gave the company a “hold” rating in a research report on Wednesday, August 14th.
Read Our Latest Stock Analysis on INSG
Inseego Price Performance
Inseego (NASDAQ:INSG – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $59.15 million during the quarter, compared to the consensus estimate of $53.63 million. Equities analysts forecast that Inseego Corp. will post -0.11 earnings per share for the current year.
Institutional Trading of Inseego
Hedge funds have recently added to or reduced their stakes in the company. Braslyn Ltd. acquired a new stake in Inseego during the 4th quarter worth approximately $1,675,000. Renaissance Technologies LLC acquired a new stake in Inseego during the 2nd quarter worth approximately $274,000. Finally, Marshall Wace LLP acquired a new stake in Inseego during the 2nd quarter worth approximately $833,000. 34.20% of the stock is owned by institutional investors and hedge funds.
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.
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