In the last trading session, 1.66 million Inseego Corp (NASDAQ:INSG) shares changed hands as the company’s beta touched 1.27. With the company’s per share price at $0.24 changed hands at -$0.01 or -6.85% during last session, the market valuation stood at $27.68M. INSG’s last price was a discount, traded about -500.0% off its 52-week high of $1.44. The share price had its 52-week low at $0.25, which suggests the last value was -4.17% down since then. When we look at Inseego Corp’s average trading volume, we note the 10-day average is 1.01 million shares, with the 3-month average coming to 622.93K.
Analysts gave the Inseego Corp (INSG) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.00. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended INSG as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. Inseego Corp’s EPS for the current quarter is expected to be -$0.05.
Inseego Corp (NASDAQ:INSG) trade information
Instantly INSG was in red as seen at the end of in last trading. With action -9.73%, the performance over the past five days has been red. The drop to weekly highs of 0.2800 on Friday, 11/17/23 subtracted -6.85% to the stock’s daily price. The company’s shares are showing year-to-date downside of -71.93%, with the 5-day performance at -9.73% in the red. However, in the 30-day time frame, Inseego Corp (NASDAQ:INSG) is -32.43% down. Looking at the short shares, we see there were 6.17 million shares sold at short interest cover period of 14.95 days.
The consensus price target for the stock as assigned by Wall Street analysts is $1.00, meaning bulls need an upside of 76.0% from its current market value. According to analyst projections, INSG’s forecast low is $1.00 with $1.00 as the target high. To hit the forecast high, the stock’s price needs a -316.67% plunge from its current level, while the stock would need to soar -316.67% for it to hit the projected low.
Inseego Corp (INSG) estimates and forecasts
Data shows that the Inseego Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -77.26% over the past 6 months, a 68.29% in annual growth rate that is considerably higher than the industry average of 18.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Inseego Corp will rise 54.50%, while the growth in revenue is estimated to hit -150.00% for the next quarter. Year-over-year growth is forecast to reach -21.10% down from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $40.57 million. 3 analysts are of the opinion that Inseego Corp’s revenue for the quarter ending Mar 2024 will be $40.61 million. The company’s revenue for the corresponding quarters a year ago was $52.91 million and $48.75 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -23.30%. The estimates for the next quarter sales put growth at -16.70%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 3.31%. The 2023 estimates are for Inseego Corp earnings to increase by 39.02%, but the outlook for the next 5-year period is at 20.00% per year.
Inseego Corp is expected to release its next quarterly earnings report on November 02.
Inseego Corp (NASDAQ:INSG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.20% of Inseego Corp shares while 42.98% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 43.50%. There are 42.98% institutions holding the Inseego Corp stock share, with Aviva Holdings Ltd. the top institutional holder. As of Jun 29, 2023, the company held 17.67% of the shares, roughly 20.65 million INSG shares worth $13.29 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 3.84% or 4.49 million shares worth $2.89 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 3.04 million shares estimated at $1.96 million under it, the former controlled 2.60% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.94% of the shares, roughly 1.1 million shares worth around $0.71 million.