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

Alarum Technologies (NASDAQ:ALAR) had its price target reduced by analysts at Canaccord Genuity Group from $25.00 to $11.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 58.50% from the company’s current price.

Alarum Technologies Stock Performance

NASDAQ ALAR opened at $6.94 on Friday. The firm has a 50-day moving average of $8.68 and a 200-day moving average of $11.12. The stock has a market cap of $48.12 million, a PE ratio of 6.43 and a beta of 0.69. Alarum Technologies has a 52-week low of $5.86 and a 52-week high of $46.69.

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 analysts’ consensus estimates of $0.02 by $0.18. Alarum Technologies had a net margin of 22.21% and a return on equity of 46.33%. The company had revenue of $7.37 million during the quarter, compared to analysts’ expectations of $7.48 million.

Institutional Trading of Alarum Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Heck Capital Advisors LLC acquired a new stake in Alarum Technologies in the 4th quarter worth about $32,000. Wells Fargo & Company MN raised its stake in Alarum Technologies by 150.1% in the 4th quarter. Wells Fargo & Company MN now owns 5,000 shares of the company’s stock worth $53,000 after purchasing an additional 3,001 shares in the last quarter. XTX Topco Ltd raised its stake 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 purchasing an additional 3,870 shares in the last quarter. National Bank of Canada FI acquired a new stake in Alarum Technologies in the 4th quarter worth about $58,000. Finally, Virtu Financial LLC acquired a new stake in Alarum Technologies in the 4th quarter worth about $114,000. Institutional investors and hedge funds own 3.23% of the company’s stock.

About Alarum Technologies

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.