Alarum Technologies (NASDAQ:ALAR) Upgraded 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 report published on Thursday, Marketbeat Ratings reports. The brokerage currently has $42.00 price objective on the stock.

Separately, Canaccord Genuity Group began coverage on Alarum Technologies in a report on Wednesday, July 3rd. They set a hold rating and a $42.00 price target for the company.

Alarum Technologies Trading Up 4.4 %

Shares of ALAR opened at $28.20 on Thursday. Alarum Technologies has a 1 year low of $2.07 and a 1 year high of $46.69. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $34.27 and a 200-day simple moving average of $24.35. The stock has a market cap of $192.89 million, a PE ratio of -19.18 and a beta of 0.74.

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

Institutional Investors Weigh In On Alarum Technologies

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