Short Interest in Alarum Technologies Ltd. (NASDAQ:ALAR) Grows By 29.8%

Alarum Technologies Ltd. (NASDAQ:ALAR) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 234,100 shares, a growth of 29.8% from the March 15th total of 180,300 shares. Based on an average trading volume of 125,700 shares, the short-interest ratio is currently 1.9 days. Currently, 3.5% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group dropped their price target on shares of Alarum Technologies from $25.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, March 21st.

Alarum Technologies Price Performance

NASDAQ ALAR opened at $8.23 on Monday. The stock has a market capitalization of $57.07 million, a P/E ratio of 7.62 and a beta of 0.78. The business has a 50 day simple moving average of $7.20 and a 200 day simple moving average of $10.43. Alarum Technologies has a one year low of $5.45 and a one year high of $46.69.

Alarum Technologies (NASDAQ:ALAR) last announced its quarterly earnings data on Thursday, March 20th. The company reported $0.20 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $7.48 million.

Hedge Funds Weigh In On Alarum Technologies

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Alarum Technologies by 249.1% in the 1st quarter. GAMMA Investing LLC now owns 6,752 shares of the company’s stock valued at $42,000 after buying an additional 4,818 shares during the period. Heck Capital Advisors LLC acquired a new stake in Alarum Technologies in the fourth quarter valued at approximately $32,000. Millennium Management LLC bought a new stake in shares of Alarum Technologies during the fourth quarter valued at approximately $158,000. Ameriprise Financial Inc. acquired a new position in shares of Alarum Technologies during the fourth quarter worth approximately $147,000. Finally, Jane Street Group LLC acquired a new position in shares of Alarum Technologies during the fourth quarter worth approximately $158,000. 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.