Alarum Technologies (NASDAQ:ALAR) Given New $11.00 Price Target at Canaccord Genuity Group

Alarum Technologies (NASDAQ:ALAR) had its price objective cut by Canaccord Genuity Group from $25.00 to $11.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Alarum Technologies Price Performance

ALAR stock opened at $6.94 on Friday. Alarum Technologies has a 52-week low of $5.86 and a 52-week high of $46.69. The company’s 50 day simple moving average is $8.68 and its 200-day simple moving average is $11.12. The firm has a market capitalization of $48.12 million, a P/E ratio of 6.43 and a beta of 0.69.

Alarum Technologies (NASDAQ:ALAR) last released its quarterly earnings results on Thursday, March 20th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.18. Alarum Technologies had a net margin of 22.21% and a return on equity of 46.33%. The business had revenue of $7.37 million for the quarter, compared to analyst estimates of $7.48 million.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALAR. Independent Advisor Alliance acquired a new position in Alarum Technologies in the 3rd quarter valued at approximately $386,000. XTX Topco Ltd increased its stake in Alarum Technologies by 55.7% in the 3rd quarter. XTX Topco Ltd now owns 10,820 shares of the company’s stock valued at $115,000 after buying an additional 3,870 shares during the period. Heck Capital Advisors LLC acquired a new position in Alarum Technologies in the 4th quarter valued at approximately $32,000. Acuitas Investments LLC acquired a new position in Alarum Technologies in the 4th quarter valued at approximately $595,000. Finally, Virtu Financial LLC acquired a new position in Alarum Technologies in the 4th quarter valued at approximately $114,000. 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.