Short Interest in Numerex Corp. (NASDAQ:NMRX) Decreases By 51.5%
Numerex Corp. (NASDAQ:NMRX) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 342,092 shares, a decrease of 51.5% from the June 15th total of 705,623 shares. Currently, 3.0% of the company’s shares are short sold. Based on an average daily volume of 171,005 shares, the days-to-cover ratio is presently 2.0 days.
Shares of Numerex Corp. (NASDAQ NMRX) opened at 4.04 on Monday. The firm’s 50-day moving average is $4.49 and its 200-day moving average is $5.33. The firm’s market cap is $78.93 million. Numerex Corp. has a 52-week low of $3.86 and a 52-week high of $9.01.
Numerex Corp. (NASDAQ:NMRX) last posted its earnings results on Tuesday, May 9th. The communications equipment provider reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.09. Numerex Corp. had a negative net margin of 37.72% and a negative return on equity of 21.38%. The business had revenue of $16.39 million for the quarter, compared to analysts’ expectations of $16.20 million. Analysts anticipate that Numerex Corp. will post ($0.38) earnings per share for the current year.
NMRX has been the subject of a number of recent analyst reports. B. Riley reissued a “buy” rating and set a $5.50 target price on shares of Numerex Corp. in a research report on Monday, June 5th. Zacks Investment Research raised shares of Numerex Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th.
Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its position in Numerex Corp. by 1.8% in the fourth quarter. Renaissance Technologies LLC now owns 259,800 shares of the communications equipment provider’s stock valued at $1,923,000 after buying an additional 4,500 shares during the period. Princeton Portfolio Strategies Group LLC acquired a new position in Numerex Corp. during the first quarter valued at about $144,000. Finally, Punch & Associates Investment Management Inc. boosted its position in Numerex Corp. by 17.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 324,245 shares of the communications equipment provider’s stock valued at $1,547,000 after buying an additional 47,400 shares during the period. 28.38% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: “Short Interest in Numerex Corp. (NASDAQ:NMRX) Decreases By 51.5%” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/07/17/short-interest-in-numerex-corp-nasdaqnmrx-decreases-by-51-5.html.
Numerex Corp. Company Profile
Numerex Corp. is a holding company. The Company, through its subsidiaries, provides managed enterprise solutions, which enable the Internet of Things (IoT). The Company offers solutions to incorporate the IoT building blocks, such as device, network, application and platform. Its technology encompasses a range of the IoT ecosystem and delivers solutions for enterprise users.
Receive News & Ratings for Numerex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Numerex Corp. and related companies with MarketBeat.com's FREE daily email newsletter.