Are analysts optimistic about Inseego Corp.’s (NASDAQ:INSG) stock?

Inseego Corp. (NASDAQ: INSG) closed the day trading at $0.61 down -3.40% from the previous closing price of $0.63. In other words, the price has decreased by -$0.0216 from its previous closing price. On the day, 786379 shares were traded. INSG stock price reached its highest trading level at $0.6400 during the session, while it also had its lowest trading level at $0.6006.

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For a better understanding of INSG, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 0.70 and its Current Ratio is at 1.40.

Upgrades & Downgrades

On March 02, 2022, Canaccord Genuity Upgraded its rating to Buy which previously was Hold and also lowered its target price recommendation from $8 to $7.

Stifel Downgraded its Buy to Hold on March 02, 2021, while the target price for the stock was maintained at $13.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 0.31.

Stock Price History:

Over the past 52 weeks, INSG has reached a high of $4.57, while it has fallen to a 52-week low of $0.62. The 50-Day Moving Average of the stock is 0.9586, while the 200-Day Moving Average is calculated to be 1.7184.

Shares Statistics:

Over the past 3-months, INSG traded about 762.39K shares per day on average, while over the past 10 days, INSG traded about 712.03k shares per day. A total of 108.15M shares are outstanding, with a floating share count of 106.53M. Insiders hold about 0.80% of the company’s shares, while institutions hold 53.90% stake in the company. Shares short for INSG as of Jan 30, 2023 were 7.61M with a Short Ratio of 7.99M, compared to 7.37M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 7.06% and a Short% of Float of 8.88%.

Earnings Estimates

Current recommendations for the stock of the company come from 2 analysts. On average, analysts expect EPS of -$0.09 for the current quarter, with a high estimate of -$0.09 and a low estimate of -$0.1, while EPS last year was -$0.08. The consensus estimate for the next quarter is -$0.08, with high estimates of -$0.07 and low estimates of -$0.1.

Analysts are recommending an EPS of between -$0.41 and -$0.41 for the fiscal current year, implying an average EPS of -$0.41. EPS for the following year is -$0.25, with 2 analysts recommending between -$0.21 and -$0.29.

Revenue Estimates

3 analysts predict $60.53M in revenue for the current quarter. It ranges from a high estimate of $69.78M to a low estimate of $54.2M. As of the current estimate, Inseego Corp.’s year-ago sales were $72.89M, an estimated decrease of -17.00% from the year-ago figure. For the next quarter, 2 analysts are estimating revenue of $53.75M, a decrease of -12.40% over than the figure of -$17.00% in the same quarter last year. There is a high estimate of $55.8M for the next quarter, whereas the lowest estimate is $51.7M.

A total of 3 analysts have provided revenue estimates for INSG’s current fiscal year. The highest revenue estimate was $262.19M, while the lowest revenue estimate was $246.6M, resulting in an average revenue estimate of $252.96M. In the same quarter a year ago, actual revenue was $262.4M, down -3.60% from the average estimate. Based on 3 analysts’ estimates, the company’s revenue will be $261.65M in the next fiscal year. The high estimate is $288.95M and the low estimate is $246.6M. The average revenue growth estimate for next year is up 3.40% from the average revenue estimate for this year.