Canaccord Genuity Group Cuts Alarum Technologies (NASDAQ:ALAR) Price Target to $11.00

Alarum Technologies (NASDAQ:ALAR) had its price objective decreased by stock analysts at Canaccord Genuity Group from $25.00 to $11.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 51.83% from the stock’s current price.

Alarum Technologies Trading Up 9.6 %

Shares of NASDAQ:ALAR traded up $0.64 on Friday, reaching $7.25. 80,870 shares of the company traded hands, compared to its average volume of 313,987. The business’s 50-day simple moving average is $8.75 and its 200 day simple moving average is $11.17. Alarum Technologies has a 52 week low of $5.86 and a 52 week high of $46.69. The stock has a market capitalization of $50.24 million, a P/E ratio of 6.71 and a beta of 0.69.

Alarum Technologies (NASDAQ:ALAR) last posted its earnings results on Thursday, March 20th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.18. The company had revenue of $7.37 million for the quarter, compared to analysts’ expectations of $7.48 million. Alarum Technologies had a return on equity of 46.33% and a net margin of 22.21%.

Hedge Funds Weigh In On Alarum Technologies

Large investors have recently made changes to their positions in the business. Acuitas Investments LLC purchased a new position in Alarum Technologies in the 4th quarter worth approximately $595,000. XTX Topco Ltd boosted its holdings in Alarum Technologies by 55.7% in the 3rd quarter. XTX Topco Ltd now owns 10,820 shares of the company’s stock worth $115,000 after buying an additional 3,870 shares during the period. Independent Advisor Alliance bought a new stake in Alarum Technologies during the third quarter valued at about $386,000. Heck Capital Advisors LLC bought a new stake in Alarum Technologies during the 4th quarter valued at approximately $32,000. Finally, Millennium Management LLC purchased a new position in shares of Alarum Technologies in the fourth quarter worth $158,000. 3.23% of the stock is currently owned by hedge funds and other institutional investors.

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.