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

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

Inseego Trading Up 0.7 %

Shares of Inseego stock opened at $11.69 on Tuesday. The company has a market capitalization of $138.88 million, a P/E ratio of -2.84 and a beta of 1.60. The stock has a fifty day simple moving average of $7.42 and a 200 day simple moving average of $4.26. Inseego has a 12-month low of $1.62 and a 12-month high of $13.42.

Inseego (NASDAQ:INSG) last announced its earnings results on Thursday, May 9th. The technology company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. The firm had revenue of $45.01 million during the quarter, compared to analysts’ expectations of $41.40 million. During the same quarter in the prior year, the company earned ($0.50) EPS. On average, analysts predict that Inseego will post -0.43 EPS for the current year.

Institutional Trading of Inseego

A number of hedge funds have recently bought and sold shares of INSG. Stratos Wealth Partners LTD. increased its position 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 purchasing an additional 26,850 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Inseego by 16.4% during the third 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 Solutions LLC purchased a new stake in Inseego during the fourth quarter worth about $1,674,000. Braslyn Ltd. bought a new stake in Inseego in the fourth quarter worth about $1,675,000. Finally, Simplicity Wealth LLC purchased a new position in Inseego in the first quarter valued at about $2,132,000. 34.20% of the stock is currently owned by 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.