Kaleyra (NYSEAMERICAN:KLR) Cut to Sell at Zacks Investment Research

Kaleyra (NYSEAMERICAN:KLRGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “Kaleyra Inc. is providing mobile communication services for financial institutions and enterprises. The company manages multi-channel integrated communication services, through its proprietary platform, comprising of messages, push notifications, e-mail, instant messaging, voice services and chatbots. Kaleyra Inc., formerly known as GigCapital Inc., is based in PALO ALTO, Calif. “

A number of other brokerages also recently commented on KLR. Cowen decreased their target price on Kaleyra from $20.00 to $15.00 in a research note on Tuesday. Craig Hallum downgraded Kaleyra from a “buy” rating to a “hold” rating and decreased their target price for the company from $15.00 to $6.50 in a research note on Tuesday. Finally, Maxim Group decreased their target price on Kaleyra from $37.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, February 17th.

NYSEAMERICAN:KLR opened at $3.24 on Friday. The stock has a market capitalization of $137.25 million, a P/E ratio of -3.48 and a beta of 0.55. Kaleyra has a one year low of $2.60 and a one year high of $14.23. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.72 and a quick ratio of 1.72.

Kaleyra (NYSEAMERICAN:KLRGet Rating) last posted its quarterly earnings results on Wednesday, February 16th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.04. The business had revenue of $90.01 million during the quarter, compared to the consensus estimate of $88.80 million. Kaleyra had a negative return on equity of 30.65% and a negative net margin of 12.70%. On average, analysts predict that Kaleyra will post -0.7 EPS for the current year.

In other Kaleyra news, Director Avi S. Katz sold 22,923 shares of the business’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $6.68, for a total transaction of $153,125.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John J. Mikulsky sold 15,000 shares of the business’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $7.84, for a total transaction of $117,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 132,061 shares of company stock worth $904,160. 31.20% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. 1492 Capital Management LLC boosted its holdings in Kaleyra by 4.2% in the first quarter. 1492 Capital Management LLC now owns 448,287 shares of the company’s stock worth $2,681,000 after purchasing an additional 18,202 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Kaleyra by 197.4% in the first quarter. First Eagle Investment Management LLC now owns 237,398 shares of the company’s stock worth $1,420,000 after purchasing an additional 157,568 shares in the last quarter. Royce & Associates LP boosted its holdings in Kaleyra by 2.8% in the first quarter. Royce & Associates LP now owns 1,116,171 shares of the company’s stock worth $6,675,000 after purchasing an additional 30,200 shares in the last quarter. National Asset Management Inc. boosted its holdings in Kaleyra by 18.7% in the first quarter. National Asset Management Inc. now owns 89,330 shares of the company’s stock worth $535,000 after purchasing an additional 14,048 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. bought a new stake in Kaleyra in the first quarter worth $237,000. Institutional investors and hedge funds own 41.34% of the company’s stock.

Kaleyra Company Profile (Get Rating)

Kaleyra Inc, through its subsidiaries, provides mobile communication services to financial institutions, e-commerce players, over the tops (OTTs), software companies, logistic enablers, healthcare providers and retailers, and other organizations. Through its platform and Application Programming Interface (APIs), it manages multi-channel integrated communication services globally consisting of messaging, push notifications, e-mail, voice services, video capabilities, and chatbots.

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