Inseego (NASDAQ:INSG) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Posted by Defense World Staff on Oct 22nd, 2024

Inseego Corp. (NASDAQ:INSG – Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.53 and traded as high as $19.67. Inseego shares last traded at $19.67, with a volume of 93,409 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. TD Cowen raised their target price on Inseego from $13.50 to $15.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Stifel Nicolaus raised their target price on Inseego from $11.00 to $17.00 and gave the company a “hold” rating in a report on Tuesday, September 17th.

Read Our Latest Report on INSG

Inseego Stock Up 1.9 %

The firm has a market capitalization of $233.74 million, a P/E ratio of -4.77 and a beta of 1.61. The business has a 50-day moving average price of $16.03 and a 200-day moving average price of $10.53.

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

Institutional Trading of Inseego

A hedge fund recently bought a new stake in Inseego stock. Marshall Wace LLP purchased a new stake in Inseego Corp. (NASDAQ:INSG – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 78,138 shares of the technology company’s stock, valued at approximately $833,000. Marshall Wace LLP owned 0.66% of Inseego at the end of the most recent reporting period. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

About Inseego

(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.