Inseego (NASDAQ:INSG) Share Price Crosses Above 200 Day Moving Average of $2.72

Shares of Inseego Corp. (NASDAQ:INSG) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.72 and traded as high as $3.10. Inseego shares last traded at $3.05, with a volume of 33,795 shares traded.

Wall Street Analysts Forecast Growth

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

Inseego Stock Performance

The firm has a market cap of $36.23 million, a PE ratio of -0.73 and a beta of 1.33. The stock’s 50 day simple moving average is $2.84 and its 200 day simple moving average is $2.72.

Inseego (NASDAQ:INSG) last issued its quarterly earnings data on Wednesday, February 21st. The technology company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.48). The business had revenue of $42.75 million for the quarter, compared to analyst estimates of $40.57 million. As a group, analysts anticipate that Inseego Corp. will post -2.24 earnings per share for the current year.

Institutional Trading of Inseego

A number of institutional investors have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. lifted its stake in shares of Inseego by 14.8% in the 4th 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 lifted its holdings in shares of Inseego by 16.4% in the third quarter. GSA Capital Partners LLP now owns 1,602,866 shares of the technology company’s stock worth $673,000 after buying an additional 225,340 shares in the last quarter. Simplicity Solutions LLC purchased a new position in shares of Inseego in the fourth quarter worth $1,674,000. Finally, Braslyn Ltd. purchased a new position in shares of Inseego in the fourth quarter worth $1,675,000. Hedge funds and other 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.