Numerex Corp. (NASDAQ:NMRX) had its price objective boosted by investment analysts at Canaccord Genuity from $4.50 to $5.50 in a research report issued to clients and investors on Wednesday. The firm currently has a “hold” rating on the communications equipment provider’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 27.31% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. B. Riley reaffirmed a “buy” rating and set a $5.50 price objective on shares of Numerex Corp. in a research note on Monday, June 5th. Zacks Investment Research raised shares of Numerex Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th.

Shares of Numerex Corp. (NASDAQ:NMRX) traded down 1.991% during mid-day trading on Wednesday, reaching $4.234. The company’s stock had a trading volume of 105,132 shares. The company’s 50-day moving average is $4.73 and its 200 day moving average is $4.82. Numerex Corp. has a 12 month low of $3.86 and a 12 month high of $9.01. The firm’s market cap is $82.72 million.

Numerex Corp. (NASDAQ:NMRX) last issued its quarterly earnings data on Tuesday, May 9th. The communications equipment provider reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.11) by $0.09. The firm had revenue of $16.39 million for the quarter, compared to the consensus estimate of $16.20 million. Numerex Corp. had a negative net margin of 37.72% and a negative return on equity of 21.38%. On average, equities analysts anticipate that Numerex Corp. will post ($0.38) EPS for the current year.

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Several institutional investors have recently made changes to their positions in NMRX. Punch & Associates Investment Management Inc. boosted its position in shares of 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 in the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 in the last quarter. Legal & General Group Plc boosted its position in shares of Numerex Corp. by 7,923.3% in the second quarter. Legal & General Group Plc now owns 161,911 shares of the communications equipment provider’s stock valued at $798,000 after buying an additional 159,893 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Numerex Corp. by 5.4% in the first quarter. Geode Capital Management LLC now owns 75,289 shares of the communications equipment provider’s stock valued at $459,000 after buying an additional 3,858 shares in the last quarter. Finally, Merriman Wealth Management LLC bought a new position in shares of Numerex Corp. during the second quarter valued at about $417,000. Institutional investors own 28.38% of the company’s stock.

About Numerex Corp.

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.

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