During the recent session, Inseego Corp. (NASDAQ:INSG)’s traded shares were 1,243,319, with the beta value of the company hitting 1.66. At the last check, the stock’s price was $9.45, reflecting an intraday gain of 3.46% or $0.31. The 52-week high for the INSG share is $21.93, that puts it down -132.06% from that peak though still a striking +24.66% gain since the share price plummeted to a 52-week low of $7.12. The company’s market capitalization is $965.3 Million, and the average intraday trading volume over the past 10 days was 3.13 Million shares, and the average trade volume was 4.33 Million shares over the past three months.
Inseego Corp. (INSG) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 2.8. INSG has a Sell rating from none of the analyst(s) out of 6 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 1 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.1.
Inseego Corp. (NASDAQ:INSG): Trading Information
Inseego Corp. (INSG) registered a 3.46% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 8.49% in intraday trading to $10.25 this Thursday, Apr 01, hitting a weekly high. The stock’s 5-day price performance is -6.2%, and it has moved by 2.18% in 30 days. Based on these gigs, the overall price performance for the year is -39.37%. The short interest in Inseego Corp. (NASDAQ:INSG) is 20.29 Million shares and it means that shorts have 4.69 day(s) to cover.
The consensus price target of analysts on Wall Street is $12.08, which implies an increase of 27.83% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $8.5 and $15 respectively. As a result, INSG is trading at a discount of 58.73% off the target high and -10.05% off the low.
Inseego Corp. (INSG) projections and forecasts
Statistics show that Inseego Corp. has outperformed its competitors in share price, compared to the industry in which it operates. Inseego Corp. (INSG) shares have jump down -9.19% during the last six months, with a year-to-date growth rate more than the industry average at 76.92% against -1.2%. Yet analysts are winding down their growth forecast for the fiscal year 2021. Revenue is predicted to decline -66.7% this quarter and then fall -700% in the quarter after that. In the rating firms’ projections, revenue will decline -11% compared to the previous financial year.
Revenue for the current quarter is expected to be $60.09 Million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $63.81 Million by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarter totaled $52.72 Million. In this case, analysts expect current quarter sales to grow by 14%.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings fell an estimated -3.7%. While earnings are projected to return -129.7% in 2021, the next five years will return 20% per annum.
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Inseego Corp. (NASDAQ:INSG)’s Biggest Investors
Inseego Corp. insiders own 0.73% of total outstanding shares while institutional holders control 55.24%, with the float percentage being 55.64%. Aviva Holdings Ltd. is the largest shareholder of the company, while 251 institutions own stock in it. As of Dec 30, 2020, the company held over 19.58 Million shares (or 19.21% of all shares), a total value of $302.91 Million in shares.
The next largest institutional holding, with 4.7 Million shares, is of Blackrock Inc.’s that is approximately 4.61% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $72.7 Million.
Also, the Mutual Funds coming in first place with the largest holdings of Inseego Corp. (INSG) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Dec 30, 2020 indicates that Vanguard Total Stock Market Index Fund owns about 2,230,465 shares. This amounts to just over 2.19 percent of the company’s overall shares, with a $34.51 Million market value. The same data shows that the other fund manager holds slightly less at 1.69 Million, or about 1.66% of the stock, which is worth about $24.64 Million.