In today’s recent session, 2,283,875 shares of the Inseego Corp.(NASDAQ:INSG) have been traded, and its beta is 1.69. Most recently the company’s share price was $15.42, and it changed around -$1.11 or -0.07% from the last close, which brings the market valuation of the company to $1.53 Billion. INSG at last check was trading at a discount to its 52-week high of $21.93, offering almost -42.22% off that amount. The share price’s 52-week low was $3.91, which indicates that the recent value has risen by an impressive 74.64% since then. We note from Inseego Corp.’s average daily trading volume that its 10-day average is 3.03 Million shares, with the 3-month average coming to 4.25 Million.
Inseego Corp. stock received a consensus recommendation rating of Overweight, based on a mean score of 2. If we narrow it down even further, the data shows that none out of 6 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 2 recommended INSG as a Hold, whereas 4 deemed it a Buy, and no one rated it as Underweight. Inseego Corp. is expected to report earnings per share of $0 for the current quarter.
Inseego Corp. (NASDAQ:INSG): Trading Information Today
Although INSG has been showing red trend so far today with a performance of -6.69% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $17.76 on Wednesday, Feb 17 increased the stock’s daily price by 13.63%. The company’s shares are currently down -0.01% year-to-date, but still down -0.1234 over the last five days. On the other hand, Inseego Corp. (NASDAQ:INSG) is -0.21% down in the 30-day period. We can see from the shorts that 19.04 Million shares have been sold at a short interest cover period of 4.48 day(s).
The consensus price target as assigned by Wall Street analysts is $14.25, which translates to bears needing to reduce their stock price by -7.59% from its current value. Analyst projections state that INSG is forecast to be at a low of $10.5 and a high of $20. In order for the stock price to hit the forecast high, the stock would need to surge +29.7% from its current level, while the stock would need to crash -31.91% from its current level to reach the projected low.
Inseego Corp. (INSG) projections and forecasts
Inseego Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +41.16 percent over the past six months and at a 76.19% annual growth rate that is well above the industry average of 2.8%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +100% in revenue this quarter, and will report an increase of 100% in the next quarter. The year-over-year growth rate is expected to be 42%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $83.81 Million in revenue for the current quarter. 6 analysts expect Inseego Corp. to make $79.31 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $52.33 Million and $52.72 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 60.1%. Forecasts for the next quarter put sales growth at 50.4%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 13.1%. Inseego Corp. earnings are expected to decrease by -324% in 2021, but the outlook is positive 20% per year for the next five years.
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Inseego Corp. (NASDAQ:INSG)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 1.21% of Inseego Corp. shares, and 55.32% of them are in the hands of institutional investors. The stock currently has a share float of 55.99%. Inseego Corp. stock is held by 224 institutions, with Aviva Holdings Ltd. being the largest institutional investor. By Dec 30, 2020, it held 19.8% of the shares, which is about 19.58 Million shares worth $302.91 Million.
Blackrock Inc., with 4.75% or 4.7 Million shares worth $72.7 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Sep 29, 2020. The former held 2206458 shares worth $22.77 Million, making up 2.23% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 1.65 Million shares worth around $25.48 Million, which represents about 1.67% of the total shares outstanding.