Inseego (NASDAQ:INSG) Shares Cross Above 200-Day Moving Average of $8.91

Posted by MarketBeat News on Oct 1st, 2024

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 changing hands.

Analyst Ratings Changes

Several brokerages have weighed in on INSG. TD Cowen lifted their price objective on Inseego from $13.50 to $15.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Stifel Nicolaus lifted 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.

View Our Latest Research Report on Inseego

Inseego Trading Down 6.6 %

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The firm has a market cap of $194.05 million, a P/E ratio of -3.96 and a beta of 1.61. The business has a 50-day moving average of $13.39 and a two-hundred day moving average of $8.91.

Inseego (NASDAQ:INSG – Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.02) earnings per share for the quarter. The company had revenue of $59.15 million during the quarter, compared to analyst estimates of $53.63 million. As a group, equities analysts expect that Inseego Corp. will post -0.11 EPS for the current year.

Institutional Investors Weigh In On Inseego

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in Inseego during the 2nd quarter worth $274,000. Marshall Wace LLP bought a new stake in shares of Inseego in the 2nd quarter valued at about $833,000. Finally, Braslyn Ltd. bought a new stake in shares of Inseego in the 4th quarter valued at about $1,675,000. Institutional investors own 34.20% of the company’s stock.

Inseego Company Profile

(Get Free Report)

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.