Inseego (NASDAQ:INSG) Issues Quarterly Earnings Results

Inseego (NASDAQ:INSG) issued its earnings results on Wednesday. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06), Zacks reports.

Inseego Price Performance

NASDAQ INSG traded down $0.75 during trading on Wednesday, reaching $11.82. 238,404 shares of the company’s stock traded hands, compared to its average volume of 112,753. The firm has a market cap of $176.83 million, a price-to-earnings ratio of -6.57 and a beta of 1.50. The company’s 50 day simple moving average is $11.53 and its two-hundred day simple moving average is $13.82. Inseego has a 12-month low of $2.08 and a 12-month high of $20.67.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on INSG shares. Roth Mkm upgraded Inseego from a “neutral” rating to a “buy” rating and upped their price target for the stock from $13.00 to $15.00 in a research note on Thursday, November 14th. TD Cowen dropped their price target on Inseego from $20.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Stifel Nicolaus cut their price objective on shares of Inseego from $17.00 to $12.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Finally, Roth Capital raised Inseego from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 14th.

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.