Inseego (NASDAQ:INSG) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS

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

Inseego Stock Performance

Shares of INSG traded down $0.75 during mid-day trading on Wednesday, hitting $11.82. 238,404 shares of the company were exchanged, compared to its average volume of 112,753. The stock has a market cap of $176.83 million, a price-to-earnings ratio of -6.57 and a beta of 1.50. The company has a 50 day moving average of $11.53 and a 200-day moving average of $13.82. Inseego has a 1-year low of $2.08 and a 1-year high of $20.67.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on INSG shares. TD Cowen reduced their target price on Inseego from $20.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, November 15th. Roth Mkm raised shares of Inseego from a “neutral” rating to a “buy” rating and raised their price target for the stock from $13.00 to $15.00 in a research report on Thursday, November 14th. Roth Capital raised Inseego from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus decreased their target price on shares of Inseego from $17.00 to $12.00 and set a “hold” rating for the company in a research note on Friday, December 20th.

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.