Canaccord Genuity Group Initiates Coverage on Alarum Technologies (NASDAQ:ALAR)

Analysts at Canaccord Genuity Group initiated coverage on shares of Alarum Technologies (NASDAQ:ALAR) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm set a “hold” rating and a $42.00 price target on the stock. Canaccord Genuity Group’s price objective would indicate a potential downside of 8.62% from the company’s previous close.

Several other equities analysts also recently weighed in on ALAR. Alliance Global Partners raised their price target on shares of Alarum Technologies from $10.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Canaccord Genuity Group initiated coverage on shares of Alarum Technologies in a research note on Wednesday. They issued a “hold” rating and a $42.00 target price on the stock.

Alarum Technologies Price Performance

NASDAQ:ALAR opened at $45.96 on Wednesday. The stock has a 50 day moving average of $32.89 and a two-hundred day moving average of $21.36. Alarum Technologies has a 12 month low of $2.07 and a 12 month high of $46.69. The firm has a market cap of $312.53 million, a P/E ratio of -31.27 and a beta of 0.74. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.04.

Alarum Technologies (NASDAQ:ALAR) last posted its quarterly earnings data on Tuesday, May 21st. The company reported $0.45 EPS for the quarter. Alarum Technologies had a positive return on equity of 35.79% and a negative net margin of 11.62%. The firm had revenue of $8.38 million during the quarter.

Institutional Trading of Alarum Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cantor Fitzgerald L. P. purchased a new stake in shares of Alarum Technologies in the fourth quarter valued at about $1,190,000. Cetera Advisors LLC purchased a new position in Alarum Technologies during the first quarter worth about $366,000. Finally, Acadian Asset Management LLC acquired a new position in Alarum Technologies in the 1st quarter valued at about $56,000. 3.23% of the stock is owned by institutional investors and hedge funds.

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.