Inseego (NASDAQ:INSG) Announces Earnings Results

Inseego (NASDAQ:INSG) announced its earnings results on Tuesday. The technology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.20), reports. The business had revenue of $54.03 million for the quarter, compared to the consensus estimate of $56.30 million. Inseego updated its Q4 2024 guidance to EPS.

Inseego Price Performance

NASDAQ INSG opened at $12.31 on Friday. The company has a fifty day moving average of $17.59 and a two-hundred day moving average of $12.25. The company has a market capitalization of $151.17 million, a PE ratio of -6.84 and a beta of 1.60. Inseego has a 1 year low of $1.62 and a 1 year high of $20.67.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Stifel Nicolaus raised their price objective on shares of 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 target on shares of Inseego from $13.50 to $15.00 and gave the company a “hold” rating in a research report on Wednesday, August 14th. Roth Mkm raised Inseego from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $13.00 to $15.00 in a research report on Thursday. Finally, Roth Capital upgraded Inseego from a “hold” rating to a “strong-buy” rating in a report on Thursday.

Institutional Trading of Inseego

A number of large investors have recently bought and sold shares of the business. Covestor Ltd acquired a new stake in shares of Inseego during the third quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Inseego during the 3rd quarter valued at approximately $73,000. Olympiad Research LP acquired a new stake in Inseego during the 3rd quarter worth approximately $184,000. Centiva Capital LP purchased a new position in shares of Inseego in the 3rd quarter valued at approximately $214,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Inseego in the second quarter valued at approximately $274,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

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.