Inseego Corp (NASDAQ: INSG) stock fell -8.41% on Monday to $0.22 against a previous-day closing price of $0.24. With 2.34 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.64 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $0.2450 whereas the lowest price it dropped to was $0.2100. The 52-week range on INSG shows that it touched its highest point at $1.44 and its lowest point at $0.24 during that stretch. It currently has a 1-year price target of $1.00. Beta for the stock currently stands at 1.25.
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 down-trending over the past week, with a drop of -13.57%, but this was down by -38.62% over a month. Three-month performance dropped to -65.06% while six-month performance fell -78.76%. The stock lost -84.30% in the past year, while it has lost -74.29% so far this year. A look at the trailing 12-month EPS for INSG yields -0.44 with Next year EPS estimates of -0.15. For the next quarter, that number is -0.05. This implies an EPS growth rate of 39.02% for this year and 38.67% 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 3.31%.
Float and Shares Shorts:
At present, 108.47 million INSG shares are outstanding with a float of 93.34 million shares on hand for trading. On Oct 30, 2023, short shares totaled 6.17 million, which was 5.27% higher than short shares on Sep 28, 2023. In addition to Mr. Ashish Sharma as the firm’s CEO & President, Mr. Steven H. Gatoff serves as its CFO & Principal Accounting Officer.
Through their ownership of 42.98% of INSG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 43.97% of INSG, in contrast to 5.00% held by mutual funds. Shares owned by individuals account for 30.21%. As the largest shareholder in INSG with 17.67% of the stake, Tavistock Life Sciences Co. holds 20,647,979 shares worth 20,647,979. A second-largest stockholder of INSG, North Sound Management, Inc., holds 4,691,897 shares, controlling over 4.01% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in INSG, holding 4,275,934 shares or 3.66% stake. With a 2.60% stake in INSG, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,041,116 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.95% of INSG stock, is the second-largest Mutual Fund holder. It holds 1,104,106 shares valued at 0.5 million. Fidelity Extended Market Index Fu holds 0.42% of the stake in INSG, owning 492,738 shares worth 0.22 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for INSG since 0 analysts follow the stock currently. 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 $1.00 and a low target of $1.00, the average target price over the next 12 months is $1.00. Based on these targets, INSG could surge 354.55% to reach the target high and rise by 354.55% to reach the target low. Reaching the average price target will result in a growth of 354.55% from current levels.
Summary of Insider Activity:
Insiders traded INSG stock several times over the past three months with 6 Buys and 0 Sells. In these transactions, 1,431,244 shares were bought while 0 shares were sold. The number of buy transactions has increased to 6 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 1,431,244 while 0 shares were sold.