Reviewing The Case For Inseego Corp. (INSG) Going Higher


    The Vanguard Group, Inc. recently announced the acquisition of new stake in Inseego Corp. (NASDAQ:INSG). The institutional investor has increased its shareholding in the Technology company by 47.82% to 3.49 million shares with purchase of 1.13 million shares. This fresh investment now brings its stake to 3.60% valued currently at $47.03 million. In addition, BlackRock Fund Advisors raised its holdings by 0.4 million to 3.48 million shares.

    With over 2.34 million Inseego Corp. (INSG) shares trading Tuesday and a closing price of $10.91 on the day, the dollar volume was approximately $25.52 million. The shares have shown a negative weekly performance of -8.93% and its price on 08/25/20 gained nearly 0.18%. Currently, there are 96.49M common shares owned by the public and among those 96.31M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for INSG have a consensus price objective of $13.67. The analysts have set the share’s price value over the next 12 months at a high of $17.00 and a low of $10.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Inseego Corp. stock is 1.90 for the next 12 months. The average price target is 20.19% above its last price level and an upside to the estimated low will see the stock lose -3.9% over that period. But an upside of 35.82% will see the stock hit the forecast high price target while mean target price for the stock is $13.75.

    Insiders at the company have transacted a total of 25 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 169,216 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 96,450 shares.

    The top 3 mutual fund holders in Inseego Corp. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 1.94 million shares of the company’s stock, all valued at over $26.09 million. The company bought an additional 614.0 shares recently to bring their total holdings to about 2.00% of the shares outstanding. Vanguard Extended Market Index Fu bought 4694.0 shares to bring its total holdings to over 0.98 million shares at a value of $13.18 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.01% of the shares outstanding.

    Shares of Inseego Corp. (NASDAQ: INSG) opened at $10.95, up $0.06 from a prior closing price of $10.89. However, the script later closed the day at $10.91, up 0.18%. The company’s stock has a 5-day price change of -8.93% and 3.90% over the past three months. INSG shares are trading 48.84% year to date (YTD), with the 12-month market performance up to 184.86% higher. It has a 12-month low price of $3.61 and touched a high of $15.25 over the same period. Currently, 2.34 million shares have been traded, compared to an average intraday trading volume of 4.06 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.48%, -6.51%, and 21.39% respectively.

    Institutional ownership of Inseego Corp. (NASDAQ: INSG) shares accounts for 61.90% of the company’s 96.49M shares outstanding. Mutual fund holders own 33.17%, while other institutional holders and individual stakeholders account for 51.36% and 10.33% respectively.

    It has a market capitalization of $1.10B and a beta (3y monthly) value of 1.90. The earnings-per-share (ttm) stands at -$1.27. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.64% over the week and 7.16% over the month.

    Analysts forecast that Inseego Corp. (INSG) will achieve an EPS of $0 for the current quarter, $0.02 for the next quarter and $0.25 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.01 while analysts give the company a high EPS estimate of $0.01. Comparatively, EPS for the current quarter was -$0.04 a year ago. Earnings per share for the fiscal year are expected to decrease by -324.00%, and 516.70% over the next financial year. EPS should grow at an annualized rate of 20.00% over the next five years, compared to 13.10% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Inseego Corp. (INSG) as a “Strong Buy” at a consensus score of 1.90. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 2 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the INSG, a number of firms have released research notes about the stock. ROTH Capital stated their Neutral rating for the stock in a research note on August 06, 2020, with the firm’s price target at. Northland Capital coverage for the Inseego Corp. (INSG) stock in a research note released on August 06, 2020 offered a Market Perform rating with a price target of $11. Stifel was of a view on June 25, 2020 that the stock is Buy, while National Securities gave the stock Buy rating on March 12, 2020, issuing a price target of. Cowen on their part issued Outperform rating on May 24, 2019.


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