Inseego Corp. (NASDAQ:INSG) Short Interest Up 14.7% in June

Inseego Corp. (NASDAQ:INSG) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 906,300 shares, a growth of 14.7% from the May 31st total of 790,200 shares. Based on an average trading volume of 195,100 shares, the short-interest ratio is presently 4.6 days. Currently, 9.5% of the shares of the company are sold short.

Institutional Investors Weigh In On Inseego

A number of institutional investors have recently added to or reduced their stakes in INSG. Simplicity Solutions LLC acquired a new position in shares of Inseego in the 4th quarter worth approximately $1,674,000. Braslyn Ltd. acquired a new position in shares of Inseego in the 4th quarter worth approximately $1,675,000. Simplicity Wealth LLC acquired a new position in shares of Inseego in the 1st quarter worth approximately $2,132,000. GSA Capital Partners LLP boosted its holdings in shares of 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 acquiring an additional 225,340 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of Inseego by 14.8% in 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. 34.20% of the stock is owned by institutional investors and hedge funds.

Inseego Stock Performance

Shares of INSG opened at $10.84 on Monday. Inseego has a 12-month low of $1.62 and a 12-month high of $11.17. The stock’s 50-day moving average price is $6.89 and its 200 day moving average price is $4.08.

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

Analysts Set New Price Targets

Separately, TD Cowen boosted their price target on Inseego from $3.50 to $12.00 and gave the company a “hold” rating in a research note on Monday, May 20th.

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.