Canaccord Genuity Group Issues Pessimistic Forecast for Alarum Technologies (NASDAQ:ALAR) Stock Price

Alarum Technologies (NASDAQ:ALAR) had its price objective lowered by equities researchers at Canaccord Genuity Group from $25.00 to $11.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 51.83% from the stock’s previous close.

Alarum Technologies Trading Up 9.6 %

Shares of NASDAQ ALAR traded up $0.64 during mid-day trading on Friday, reaching $7.25. The company had a trading volume of 80,870 shares, compared to its average volume of 313,987. The business’s 50-day moving average is $8.75 and its 200-day moving average is $11.17. The stock has a market cap of $50.24 million, a price-to-earnings ratio of 6.71 and a beta of 0.69. Alarum Technologies has a 52 week low of $5.86 and a 52 week high of $46.69.

Alarum Technologies (NASDAQ:ALAR) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.18. The firm had revenue of $7.37 million for the quarter, compared to analysts’ expectations of $7.48 million. Alarum Technologies had a net margin of 22.21% and a return on equity of 46.33%.

Institutional Trading of Alarum Technologies

Hedge funds have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new stake in shares of Alarum Technologies during the fourth quarter valued at about $32,000. Wells Fargo & Company MN lifted its position in shares of Alarum Technologies by 150.1% during the fourth quarter. Wells Fargo & Company MN now owns 5,000 shares of the company’s stock valued at $53,000 after buying an additional 3,001 shares during the last quarter. National Bank of Canada FI purchased a new stake in shares of Alarum Technologies during the fourth quarter valued at about $58,000. Virtu Financial LLC purchased a new stake in shares of Alarum Technologies during the fourth quarter valued at about $114,000. Finally, XTX Topco Ltd increased its holdings in shares of Alarum Technologies by 55.7% during the third quarter. XTX Topco Ltd now owns 10,820 shares of the company’s stock valued at $115,000 after acquiring an additional 3,870 shares in the last quarter. 3.23% of the stock is owned by hedge funds and other institutional investors.

Alarum Technologies Company Profile

Alarum Technologies Ltd. provides internet access and web data collection solutions in North, South, and Central America, Europe, Southeast Asia, the Middle East, and Africa. The company operates through two segments, Enterprise Internet Access Solutions and Consumer Internet Access Solutions. The company offers security blanket against ransomware, viruses, phishing, and other online threats, as well as secured and encrypted connection, masking the customers online activity and keeping them safe from hackers.