Inseego (NASDAQ:INSG) Given New $13.50 Price Target at TD Cowen

Inseego (NASDAQ:INSG) had its price target increased by TD Cowen from $12.00 to $13.50 in a report issued on Tuesday, Benzinga reports. The firm currently has a hold rating on the technology company’s stock.

Inseego Price Performance

NASDAQ INSG opened at $11.61 on Tuesday. Inseego has a fifty-two week low of $1.62 and a fifty-two week high of $13.42. The stock’s 50-day moving average is $7.26 and its two-hundred day moving average is $4.21. The firm has a market cap of $137.93 million, a P/E ratio of -2.82 and a beta of 1.60.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in INSG. Braslyn Ltd. acquired a new stake in Inseego during the 4th quarter worth approximately $1,675,000. Simplicity Solutions LLC acquired a new position in Inseego during the fourth quarter worth $1,674,000. GSA Capital Partners LLP increased its holdings in 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 purchasing an additional 225,340 shares in the last quarter. Simplicity Wealth LLC bought a new position in Inseego during the 1st quarter valued at $2,132,000. Finally, Stratos Wealth Partners LTD. grew its position in 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 purchasing an additional 26,850 shares in the last quarter. 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.