Arlo Technologies Inc (NYSE:ARLO) traded up 5.7% during mid-day trading on Wednesday . The stock traded as high as $4.36 and last traded at $4.26. 1,809,479 shares traded hands during trading, a decline of 19% from the average session volume of 2,221,385 shares. The stock had previously closed at $4.03.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Arlo Technologies from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Imperial Capital lowered their price objective on shares of Arlo Technologies from $29.00 to $7.50 and set an “outperform” rating for the company in a research report on Wednesday, February 6th. Cowen downgraded shares of Arlo Technologies from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $25.00 to $7.50 in a research report on Wednesday, February 6th. Finally, Bank of America downgraded shares of Arlo Technologies from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $18.60.
The firm has a market capitalization of $317.58 million and a P/E ratio of -4.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.31 and a current ratio of 1.96.
Arlo Technologies (NYSE:ARLO) last announced its earnings results on Tuesday, April 30th. The company reported ($0.55) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.55). Arlo Technologies had a negative net margin of 24.30% and a negative return on equity of 42.61%. The business had revenue of $57.88 million during the quarter, compared to analysts’ expectations of $50.40 million. The business’s revenue was down 42.5% compared to the same quarter last year. Equities research analysts forecast that Arlo Technologies Inc will post -1.63 earnings per share for the current fiscal year.
In other news, CEO Matthew Blake Mcrae purchased 45,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $4.46 per share, for a total transaction of $200,700.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ralph E. Faison purchased 50,000 shares of the business’s stock in a transaction on Wednesday, February 27th. The stock was purchased at an average price of $4.24 per share, with a total value of $212,000.00. The disclosure for this purchase can be found here.
Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc acquired a new stake in Arlo Technologies in the third quarter valued at $27,000. Contravisory Investment Management Inc. acquired a new stake in Arlo Technologies in the fourth quarter valued at $47,000. Bank of Montreal Can lifted its stake in Arlo Technologies by 5,782.4% in the first quarter. Bank of Montreal Can now owns 10,000 shares of the company’s stock valued at $41,000 after acquiring an additional 9,830 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Arlo Technologies in the fourth quarter valued at about $109,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Arlo Technologies in the first quarter valued at about $47,000. Hedge funds and other institutional investors own 31.35% of the company’s stock.
Arlo Technologies Company Profile (NYSE:ARLO)
Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular network Internet connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile monitoring; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.
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