Tower Research Capital LLC TRC Purchases New Position in Inseego Corp. (NASDAQ:INSG)

Tower Research Capital LLC TRC acquired a new stake in Inseego Corp. (NASDAQ:INSG) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 10,945 shares of the technology company’s stock, valued at approximately $112,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Barclays PLC grew its position in shares of Inseego by 71.3% in the third quarter. Barclays PLC now owns 4,051 shares of the technology company’s stock valued at $67,000 after purchasing an additional 1,686 shares in the last quarter. Quantbot Technologies LP bought a new position in Inseego in the 4th quarter worth about $60,000. Arrowstreet Capital Limited Partnership grew its holdings in Inseego by 3.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 158,673 shares of the technology company’s stock valued at $1,628,000 after buying an additional 5,992 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Inseego by 655.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,080 shares of the technology company’s stock valued at $83,000 after buying an additional 7,010 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Inseego by 7.6% in the third quarter. Geode Capital Management LLC now owns 104,304 shares of the technology company’s stock worth $1,704,000 after buying an additional 7,325 shares in the last quarter. Institutional investors own 34.20% of the company’s stock.

Inseego Trading Up 3.5 %

Shares of INSG opened at $8.48 on Friday. Inseego Corp. has a 12-month low of $3.70 and a 12-month high of $20.67. The company has a market cap of $127.25 million, a PE ratio of -13.68 and a beta of 1.15. The stock has a 50-day moving average price of $8.35 and a 200-day moving average price of $11.20.

Inseego (NASDAQ:INSG) last announced its earnings results on Thursday, May 8th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.04). Inseego had a net margin of 2.22% and a negative return on equity of 4.08%. As a group, analysts predict that Inseego Corp. will post -0.06 earnings per share for the current year.

Analyst Ratings Changes

Separately, Stifel Nicolaus lowered their target price on shares of Inseego from $11.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th.

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.