Canaccord Genuity Reiterates Hold Rating for Numerex Corp. (NMRX)
Numerex Corp. (NASDAQ:NMRX)‘s stock had its “hold” rating restated by equities research analysts at Canaccord Genuity in a research report issued on Friday. They presently have a $4.50 target price on the communications equipment provider’s stock. Canaccord Genuity’s price target suggests a potential upside of 14.80% from the stock’s previous close.
A number of other equities research analysts have also recently commented on NMRX. Zacks Investment Research upgraded shares of Numerex Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine cut shares of Numerex Corp. from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $5.00.
Shares of Numerex Corp. (NMRX) opened at $3.92 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.73 and a debt-to-equity ratio of 0.23.
A number of hedge funds have recently modified their holdings of NMRX. Punch & Associates Investment Management Inc. purchased a new stake in Numerex Corp. in the second quarter worth approximately $1,272,000. Legal & General Group Plc boosted its holdings in 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 worth $798,000 after purchasing an additional 159,893 shares during the last quarter. Merriman Wealth Management LLC purchased a new stake in Numerex Corp. in the second quarter worth approximately $417,000. Susquehanna International Group LLP bought a new position in Numerex Corp. in the second quarter worth approximately $197,000. Finally, LMR Partners LLP bought a new position in Numerex Corp. in the second quarter worth approximately $170,000. Institutional investors own 23.91% 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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