NETGEAR (NASDAQ:NTGR) Shares Gap Up to $20.84

Shares of NETGEAR, Inc. (NASDAQ:NTGR) gapped up before the market opened on Friday . The stock had previously closed at $20.84, but opened at $21.55. NETGEAR shares last traded at $21.82, with a volume of 77,295 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of NETGEAR from a “hold” rating to a “buy” rating in a report on Monday.

NETGEAR Price Performance

The stock’s fifty day simple moving average is $15.66 and its 200-day simple moving average is $14.77. The stock has a market cap of $632.97 million, a P/E ratio of -5.73 and a beta of 0.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in NETGEAR in the first quarter valued at $30,000. Quest Partners LLC bought a new stake in NETGEAR in the 4th quarter valued at about $53,000. Allspring Global Investments Holdings LLC boosted its stake in NETGEAR by 229.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,940 shares of the communications equipment provider’s stock valued at $157,000 after purchasing an additional 6,921 shares during the period. State Board of Administration of Florida Retirement System bought a new position in NETGEAR in the 1st quarter worth about $176,000. Finally, Aigen Investment Management LP increased its stake in shares of NETGEAR by 57.9% in the fourth quarter. Aigen Investment Management LP now owns 18,467 shares of the communications equipment provider’s stock valued at $269,000 after purchasing an additional 6,772 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

NETGEAR Company Profile

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.