Inseego Corp. (NASDAQ:INSG) shares, rose in value on Thursday, 08/04/22, with the stock price up by 0.40% to the previous day’s close as strong demand from buyers drove the stock to $2.52.
Actively observing the price movement in the last trading, the stock closed the session at $2.51, falling within a range of $2.48 and $2.65. The value of beta (5-year monthly) was 1.68. Referring to stock’s 52-week performance, its high was $9.61, and the low was $1.74. On the whole, INSG has fluctuated by 27.92% over the past month.
With the market capitalization of Inseego Corp. currently standing at about $251.77 million, investors are eagerly awaiting this quarter’s results, scheduled for Feb 28, 2022 – Mar 04, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.11, which is expected to increase to -$0.08 for fiscal year -$0.4 and then to about -$0.24 by fiscal year 2023. Data indicates that the EPS growth is expected to be -25.00% in 2023, while the next year’s EPS growth is forecast to be 40.00%.
Analysts have estimated the company’s revenue for the quarter at $62.37 million, with a low estimate of $61.36 million and a high estimate of $63.8 million. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $267.57 million, representing an increase of 2.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that INSG’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of INSG currently trading nearly 18.85% and 22.13% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 63.13, while the 7-day volatility ratio is showing 9.93% which for the 30-day chart, stands at 6.64%. Furthermore, Inseego Corp. (INSG)’s beta value is 1.69, and its average true range (ATR) is 0.15.
A comparison of Inseego Corp. (INSG) with its peers suggests the former has fared considerably weaker in the market. INSG showed an intraday change of 0.40% in last session, and over the past year, it shrunk by -70.63%%. In comparison, CalAmp Corp. (CAMP) has moved lower at -2.71% on the day and was down -57.31% over the past 12 months. On the other hand, the price of Alphabet Inc. (GOOGL) has risen 0.09% on the day. The stock, however, is off -12.53% from where it was a year ago. Additionally, there is a loss of -0.19% for Apple Inc. (AAPL) in last trading while the stock has seen an overall depriciation of 12.83%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.08%. Meanwhile, the Dow Jones Industrial Slipped by -0.26%.
Data on historical trading for Inseego Corp. (NASDAQ:INSG) indicates that the trading volumes over the past 10 days have averaged 0.72 million and over the past 3 months, they’ve averaged 926.96K. According to company’s latest data on outstanding shares, there are 105.65 million shares outstanding.
Nearly 0.70% of Inseego Corp.’s shares belong to company insiders and institutional investors own 56.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 10.61 million shares as on Jul 14, 2022, resulting in a short ratio of 13.55. According to the data, the short interest in Inseego Corp. (INSG) stood at 9.86% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 10.81 million. The stock has fallen by -56.78% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the INSG stock heading into the next quarter.