Inseego (NASDAQ:INSG) Stock Price Passes Above 200-Day Moving Average of $2.72

Shares of Inseego Corp. (NASDAQ:INSG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.72 and traded as high as $4.12. Inseego shares last traded at $4.02, with a volume of 46,192 shares traded.

Analyst Upgrades and Downgrades

Separately, TD Cowen increased their price objective on Inseego from $2.50 to $3.50 and gave the stock a “market perform” rating in a research report on Wednesday, March 13th.

Inseego Price Performance

The company has a market cap of $47.76 million, a P/E ratio of -0.96 and a beta of 1.33. The stock has a 50-day moving average of $2.90 and a 200 day moving average of $2.72.

Inseego (NASDAQ:INSG) last issued its quarterly earnings results on Wednesday, February 21st. The technology company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.48). The company had revenue of $42.75 million during the quarter, compared to the consensus estimate of $40.57 million. Sell-side analysts predict that Inseego Corp. will post -2.24 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of INSG. Stratos Wealth Partners LTD. increased its position in shares of Inseego by 14.8% in the fourth 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 during the period. GSA Capital Partners LLP boosted its stake in Inseego by 16.4% in the third quarter. GSA Capital Partners LLP now owns 1,602,866 shares of the technology company’s stock valued at $673,000 after buying an additional 225,340 shares in the last quarter. Simplicity Solutions LLC acquired a new stake in Inseego in the fourth quarter valued at about $1,674,000. Braslyn Ltd. acquired a new stake in Inseego in the fourth quarter valued at about $1,675,000. Finally, Simplicity Wealth LLC acquired a new stake in Inseego in the first quarter valued at about $2,132,000. Institutional investors 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.