Inseego Corp. (NASDAQ: INSG) stock jumped 16.14% on Friday to $2.59 against a previous-day closing price of $2.23. With 1.63 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.92 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $2.6500 whereas the lowest price it dropped to was $2.2100. The 52-week range on INSG shows that it touched its highest point at $9.61 and its lowest point at $1.74 during that stretch. It currently has a 1-year price target of $4.69. Beta for the stock currently stands at 1.69.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of INSG was up-trending over the past week, with a rise of 25.12%, but this was up by 37.04% over a month. Three-month performance dropped to -9.12% while six-month performance fell -37.59%. The stock lost -70.20% in the past year, while it has lost -55.57% so far this year. A look at the trailing 12-month EPS for INSG yields -0.58 with Next year EPS estimates of -0.24. For the next quarter, that number is -0.11. This implies an EPS growth rate of 57.30% for this year and 66.70% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 14.70%.
Float and Shares Shorts:
At present, 105.65 million INSG shares are outstanding with a float of 79.09 million shares on hand for trading. On Apr 28, 2022, short shares totaled 10.7 million, which was 9.96% higher than short shares on Mar 30, 2022. In addition to Mr. Dan Mondor as the firm’s Exec. Chairman, Mr. Ashish Sharma serves as its Chief Exec. Officer.
Through their ownership of 56.31% of INSG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 41.22% of INSG, in contrast to 26.35% held by mutual funds. Shares owned by individuals account for 14.45%. As the largest shareholder in INSG with 19.23% of the stake, Tavistock Life Sciences Co. holds 20,647,979 shares worth 20,647,979. A second-largest stockholder of INSG, BlackRock Fund Advisors, holds 5,039,362 shares, controlling over 4.69% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in INSG, holding 4,874,799 shares or 4.54% stake. With a 2.67% stake in INSG, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,870,125 shares are owned by the mutual fund manager. The Defiance Next Gen Connectivity ET, which owns about 2.18% of INSG stock, is the second-largest Mutual Fund holder. It holds 2,338,818 shares valued at 4.42 million. iShares Russell 2000 ETF holds 1.76% of the stake in INSG, owning 1,885,028 shares worth 3.56 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for INSG since 5 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With INSG analysts setting a high price target of $6.00 and a low target of $2.50, the average target price over the next 12 months is $4.69. Based on these targets, INSG could surge 131.66% to reach the target high and fall by -3.47% to reach the target low. Reaching the average price target will result in a growth of 81.08% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. INSG will report FY 2022 earnings on 03/09/2023. Analysts have provided yearly estimates in a range of -$0.35 being high and -$0.44 being low. For INSG, this leads to a yearly average estimate of -$0.40. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Inseego Corp. surprised analysts by -$0.01 when it reported -$0.11 EPS against a consensus estimate of -$0.10. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.09 and the low estimate is -$0.13. The average estimate for the next quarter is thus -$0.11.
Summary of Insider Activity:
Insiders traded INSG stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 7 over the past year. The total number of shares bought during that period was 1,773,443 while 261,309 shares were sold.