A2Z Smart Technologies Corp. (NASDAQ:AZ) Sees Significant Decline in Short Interest

A2Z Smart Technologies Corp. (NASDAQ:AZ) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 163,200 shares, a drop of 14.9% from the February 28th total of 191,800 shares. Based on an average daily trading volume, of 116,600 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.3% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Benchmark boosted their price objective on A2Z Smart Technologies from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, March 26th.

A2Z Smart Technologies Stock Performance

NASDAQ AZ opened at $6.67 on Thursday. The company has a market capitalization of $183.05 million, a PE ratio of -13.34 and a beta of 1.38. A2Z Smart Technologies has a 52-week low of $0.85 and a 52-week high of $8.28. The company has a 50-day simple moving average of $6.99 and a 200 day simple moving average of $5.89.

A2Z Smart Technologies (NASDAQ:AZ) last issued its quarterly earnings results on Monday, March 31st. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.26). The firm had revenue of $2.00 million for the quarter, compared to the consensus estimate of $2.00 million.

Institutional Trading of A2Z Smart Technologies

Several hedge funds have recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of A2Z Smart Technologies during the 4th quarter worth $3,619,000. Renaissance Technologies LLC purchased a new stake in A2Z Smart Technologies during the fourth quarter valued at about $287,000. Garnet Equity Capital Holdings Inc. bought a new position in A2Z Smart Technologies during the fourth quarter worth about $1,986,000. Finally, IHT Wealth Management LLC purchased a new position in shares of A2Z Smart Technologies in the fourth quarter worth about $1,156,000. 12.64% of the stock is currently owned by institutional investors.

A2Z Smart Technologies Company Profile

A2Z Smart Technologies Corp., a technology company, focuses on the development and commercialization of retail smart cart solutions for grocery stores and supermarkets in Israel and internationally. The company operates through three segments: Precision Metal Parts, Advanced Engineering, and Smart Carts.