Fintel reports that on September 15, 2023, Stifel reiterated coverage of Inseego (NASDAQ:INSG) with a Hold recommendation.
Analyst Price Forecast Suggests 230.65% Upside
As of August 31, 2023, the average one-year price target for Inseego is 1.56. The forecasts range from a low of 1.36 to a high of $1.84. The average price target represents an increase of 230.65% from its latest reported closing price of 0.47.
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The projected annual revenue for Inseego is 256MM, an increase of 13.15%. The projected annual non-GAAP EPS is -0.27.
What is the Fund Sentiment?
There are 151 funds or institutions reporting positions in Inseego. This is a decrease of 75 owners or 33.19% in the last quarter. Average portfolio weight of all funds dedicated to INSG is 0.06%, an increase of 62.54%. Total shares owned by institutions decreased in the last three months by 8.22% to 40,875K shares. The put/call ratio of INSG is 0.26, indicating a bullish outlook.
What are Other Shareholders Doing?
Aviva Holdings holds 20,648K shares representing 17.67% ownership of the company. No change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,041K shares representing 2.60% ownership of the company. No change in the last quarter.
Millennium Management holds 2,776K shares representing 2.38% ownership of the company. In its prior filing, the firm reported owning 89K shares, representing an increase of 96.80%. The firm increased its portfolio allocation in INSG by 2,855.09% over the last quarter.
Gsa Capital Partners Llp holds 1,378K shares representing 1.18% ownership of the company. In its prior filing, the firm reported owning 1,144K shares, representing an increase of 16.95%. The firm increased its portfolio allocation in INSG by 34.54% over the last quarter.
VEXMX – Vanguard Extended Market Index Fund Investor Shares holds 1,104K shares representing 0.94% ownership of the company. In its prior filing, the firm reported owning 1,119K shares, representing a decrease of 1.34%. The firm increased its portfolio allocation in INSG by 4.02% over the last quarter.
Inseego Background Information
(This description is provided by the company.)
Inseego Corp. is an industry leader in smart device-to-cloud solutions that extend the 5G network edge, enabling broader 5G coverage, multi-gigabit data speeds, low latency, and strong security to deliver highly reliable internet access. Its innovative mobile broadband, fixed wireless access (FWA) solutions, and software platform incorporate the most advanced technologies (including 5G, 4G LTE, Wi-Fi 6, and others) into a wide range of products that provide robust connectivity indoors, outdoors, and in the harshest industrial environments. Designed and developed in the USA, Inseego products and SaaS solutions build on the company’s patented technologies to provide the highest quality wireless connectivity for service providers, enterprises, and government entities worldwide.
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