Canaccord Genuity Group Cuts Alarum Technologies (NASDAQ:ALAR) Price Target to $14.00

Alarum Technologies (NASDAQ:ALAR) had its price target trimmed by Canaccord Genuity Group from $27.00 to $14.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Alarum Technologies in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.00.

Alarum Technologies Price Performance

ALAR stock opened at $6.30 on Friday. The company’s 50 day simple moving average is $7.49 and its 200-day simple moving average is $10.69. Alarum Technologies has a 12 month low of $5.45 and a 12 month high of $18.00. The firm has a market capitalization of $45.68 million, a PE ratio of 45.00 and a beta of 1.42.

Alarum Technologies (NASDAQ:ALAR) last issued its quarterly earnings data on Thursday, March 19th. The company reported $0.15 earnings per share (EPS) for the quarter. The firm had revenue of $11.82 million during the quarter, compared to the consensus estimate of $12.01 million. Alarum Technologies had a return on equity of 15.59% and a net margin of 2.36%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALAR. Renaissance Technologies LLC grew its position in Alarum Technologies by 34.6% during the fourth quarter. Renaissance Technologies LLC now owns 17,500 shares of the company’s stock valued at $150,000 after acquiring an additional 4,500 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Alarum Technologies by 2,102.9% in the 1st quarter. Jones Financial Companies Lllp now owns 6,168 shares of the company’s stock worth $39,000 after purchasing an additional 5,888 shares during the period. XTX Topco Ltd acquired a new position in shares of Alarum Technologies in the 2nd quarter valued at about $142,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of Alarum Technologies during the 4th quarter worth about $4,756,000. Institutional investors and hedge funds own 3.23% of the company’s stock.

Alarum Technologies Company Profile

Alarum Technologies Ltd. provides internet access and web data collection solutions in North, South, and Central America, Europe, Southeast Asia, the Middle East, and Africa. The company operates through two segments, Enterprise Internet Access Solutions and Consumer Internet Access Solutions. The company offers security blanket against ransomware, viruses, phishing, and other online threats, as well as secured and encrypted connection, masking the customers online activity and keeping them safe from hackers.