Short Interest in Alarum Technologies Ltd. (NASDAQ:ALAR) Drops By 37.6%

Alarum Technologies Ltd. (NASDAQ:ALAR) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 255,100 shares, a decline of 37.6% from the September 15th total of 409,000 shares. Approximately 3.9% of the company’s shares are short sold. Based on an average daily trading volume, of 377,300 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analysts Forecast Growth

ALAR has been the topic of several research analyst reports. Canaccord Genuity Group raised shares of Alarum Technologies from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Thursday, July 25th. Alliance Global Partners reduced their target price on Alarum Technologies from $34.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, Canaccord Genuity Group dropped their price target on Alarum Technologies from $42.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th.

Alarum Technologies Stock Up 9.5 %

ALAR stock traded up $0.91 during mid-day trading on Friday, reaching $10.47. 222,924 shares of the company traded hands, compared to its average volume of 341,328. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average price is $14.40 and its 200 day moving average price is $24.57. The stock has a market cap of $71.23 million, a price-to-earnings ratio of -7.12 and a beta of 0.68. Alarum Technologies has a fifty-two week low of $2.92 and a fifty-two week high of $46.69.

Alarum Technologies (NASDAQ:ALAR) last announced its quarterly earnings results on Monday, August 26th. The company reported $0.40 earnings per share (EPS) for the quarter. Alarum Technologies had a return on equity of 54.68% and a net margin of 12.70%. The business had revenue of $8.88 million during the quarter.

Hedge Funds Weigh In On Alarum Technologies

Several large investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its position in shares of Alarum Technologies by 172.2% during the second quarter. Renaissance Technologies LLC now owns 158,861 shares of the company’s stock valued at $6,626,000 after buying an additional 100,489 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Alarum Technologies by 3,652.5% in the second quarter. Acadian Asset Management LLC now owns 107,960 shares of the company’s stock worth $4,493,000 after purchasing an additional 105,083 shares during the period. Altshuler Shaham Ltd bought a new stake in Alarum Technologies during the second quarter valued at $3,229,000. Cetera Advisors LLC bought a new stake in shares of Alarum Technologies during the 1st quarter valued at about $366,000. Finally, Thoroughbred Financial Services LLC bought a new stake in shares of Alarum Technologies during the 2nd quarter valued at about $747,000. Hedge funds and other institutional investors 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.