Arlo Technologies, Inc. (NYSE:ARLO) Short Interest Update


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Arlo Technologies, Inc. (NYSE:ARLO) was the recipient of a significant growth in short interest in the month of October. As of October 30th, there was short interest totalling 3,870,000 shares, a growth of 13.2% from the October 15th total of 3,420,000 shares. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is currently 3.7 days.

Large investors have recently added to or reduced their stakes in the business. FMR LLC grew its position in Arlo Technologies by 50.0% in the 1st quarter. FMR LLC now owns 11,138,225 shares of the company’s stock valued at $46,001,000 after acquiring an additional 3,713,841 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Arlo Technologies by 155.7% in the third quarter. Assenagon Asset Management S.A. now owns 795,334 shares of the company’s stock valued at $4,183,000 after purchasing an additional 484,270 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Arlo Technologies by 68.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,015,022 shares of the company’s stock worth $5,339,000 after buying an additional 411,183 shares during the period. Acadian Asset Management LLC increased its stake in Arlo Technologies by 1,074.3% during the 3rd quarter. Acadian Asset Management LLC now owns 398,586 shares of the company’s stock worth $2,097,000 after buying an additional 364,644 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Arlo Technologies by 119.9% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 575,300 shares of the company’s stock worth $1,484,000 after buying an additional 313,700 shares in the last quarter. Institutional investors own 66.09% of the company’s stock.

ARLO stock traded up $0.08 during mid-day trading on Friday, hitting $5.37. 1,288,153 shares of the company were exchanged, compared to its average volume of 1,144,986. The firm has a market capitalization of $424.43 million, a P/E ratio of -6.32 and a beta of 1.76. The business has a fifty day simple moving average of $5.14 and a 200-day simple moving average of $4.19. Arlo Technologies has a 12-month low of $1.20 and a 12-month high of $7.30.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.22. Arlo Technologies had a negative net margin of 18.21% and a negative return on equity of 39.33%. As a group, equities analysts expect that Arlo Technologies will post -1.39 EPS for the current fiscal year.

ARLO has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Arlo Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Arlo Technologies from $4.00 to $7.00 in a research report on Thursday, August 6th. BWS Financial upped their price objective on Arlo Technologies from $6.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Raymond James raised their target price on Arlo Technologies from $6.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th.

About Arlo Technologies

Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, a LTE-enabled wire-free camera that provides untethered mobile security; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.

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