Inseego Corp. INSG was a big mover last session, as the company saw its shares rise nearly 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $4.12 –$7.20 in the past one-month time frame, witnessed a sharp increase yesterday.
The stock gained after the company reported record increase in demand for its 4G and 5G MiFi mobile hotspots.
The company has seen two negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Inseego currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Inseego Corp. Price
Inseego Corp. price | Inseego Corp. Quote
Investors interested in the Internet – Software industry may consider Cloudera, Inc. CLDR, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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