Canaccord Genuity Group Cuts Alarum Technologies (NASDAQ:ALAR) Price Target to $11.00

Alarum Technologies (NASDAQ:ALAR) had its price objective trimmed by Canaccord Genuity Group from $25.00 to $11.00 in a report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Alarum Technologies Price Performance

ALAR stock opened at $6.94 on Friday. The business has a 50 day simple moving average of $8.68 and a 200-day simple moving average of $11.11. The firm has a market capitalization of $48.12 million, a PE ratio of 6.43 and a beta of 0.69. Alarum Technologies has a 1 year low of $5.86 and a 1 year high of $46.69.

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

Institutional Investors Weigh In On Alarum Technologies

A number of large investors have recently made changes to their positions in ALAR. Heck Capital Advisors LLC acquired a new position in Alarum Technologies in the fourth quarter valued at approximately $32,000. Wells Fargo & Company MN lifted its holdings in Alarum Technologies by 150.1% in the fourth quarter. Wells Fargo & Company MN now owns 5,000 shares of the company’s stock valued at $53,000 after acquiring an additional 3,001 shares during the last quarter. National Bank of Canada FI acquired a new position in Alarum Technologies in the fourth quarter valued at approximately $58,000. Virtu Financial LLC acquired a new position in Alarum Technologies in the fourth quarter valued at approximately $114,000. Finally, XTX Topco Ltd lifted its holdings in Alarum Technologies by 55.7% in 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 during the last quarter. 3.23% of the stock is currently 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.