Alarum Technologies (NASDAQ:ALAR) Raised to “Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Alarum Technologies (NASDAQ:ALAR) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, MarketBeat reports. Canaccord Genuity Group currently has $42.00 target price on the stock.

Separately, Canaccord Genuity Group upgraded shares of Alarum Technologies from a hold rating to a buy rating and set a $42.00 price target on the stock in a research report on Thursday.

Alarum Technologies Stock Performance

Shares of ALAR opened at $28.20 on Thursday. The company has a market capitalization of $191.84 million, a PE ratio of -19.18 and a beta of 0.74. Alarum Technologies has a one year low of $2.07 and a one year high of $46.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.47 and a quick ratio of 2.47. The company’s fifty day moving average price is $34.27 and its 200 day moving average price is $24.25.

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

Institutional Trading of Alarum Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in Alarum Technologies in the 1st quarter worth $56,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Alarum Technologies during the 2nd quarter valued at about $58,000. ARS Investment Partners LLC acquired a new stake in shares of Alarum Technologies during the 2nd quarter valued at about $246,000. Cetera Advisors LLC acquired a new stake in shares of Alarum Technologies during the 1st quarter valued at about $366,000. Finally, Cantor Fitzgerald L. P. acquired a new stake in shares of Alarum Technologies during the 4th quarter valued at about $1,190,000. 3.23% of the stock is currently owned by institutional investors and hedge funds.

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.