CalAmp Corp. (NASDAQ:CAMP) Short Interest Up 22.9% in April

CalAmp Corp. (NASDAQ:CAMP – Get Rating) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 2,090,000 shares, a growth of 22.9% from the April 15th total of 1,700,000 shares. Based on an average daily volume of 257,000 shares, the days-to-cover ratio is currently 8.1 days. Currently, 6.0% of the company’s shares are short sold.

Shares of NASDAQ CAMP opened at $5.69 on Wednesday. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.01 and a quick ratio of 1.80. The firm has a 50-day moving average of $6.30 and a 200 day moving average of $7.34. CalAmp has a 1 year low of $4.70 and a 1 year high of $14.51. The stock has a market cap of $205.17 million, a P/E ratio of -7.11 and a beta of 2.30.

CalAmp (NASDAQ:CAMP – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The Wireless communications provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.13. The business had revenue of $68.38 million for the quarter, compared to analysts’ expectations of $68.44 million. CalAmp had a negative return on equity of 8.27% and a negative net margin of 9.46%. The firm’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 EPS. Research analysts expect that CalAmp will post -0.21 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on CAMP. Zacks Investment Research upgraded shares of CalAmp from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 5th. StockNews.com began coverage on shares of CalAmp in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Jefferies Financial Group lowered their price target on CalAmp from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, March 25th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, CalAmp has an average rating of “Buy” and a consensus price target of $13.88.

Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in CalAmp by 245.3% in the 2nd quarter. Royal Bank of Canada now owns 3,170 shares of the Wireless communications provider’s stock worth $40,000 after buying an additional 2,252 shares in the last quarter. Millennium Management LLC purchased a new stake in CalAmp in the second quarter worth approximately $222,000. Wells Fargo & Company MN grew its position in CalAmp by 6.3% in the 2nd quarter. Wells Fargo & Company MN now owns 17,074 shares of the Wireless communications provider’s stock worth $217,000 after purchasing an additional 1,015 shares during the period. Barclays PLC raised its stake in CalAmp by 52.1% during the 3rd quarter. Barclays PLC now owns 28,021 shares of the Wireless communications provider’s stock valued at $279,000 after buying an additional 9,597 shares during the last quarter. Finally, Trigran Investments Inc. lifted its holdings in CalAmp by 27.2% in the third quarter. Trigran Investments Inc. now owns 3,239,301 shares of the Wireless communications provider’s stock valued at $32,231,000 after acquiring an additional 693,157 shares during the period. 77.03% of the stock is currently owned by institutional investors.

About CalAmp (Get Rating)

CalAmp Corp., a connected intelligence company, provides leverages a data-driven solutions ecosystem to people and organizations in the United States, Europe, the Middle East, Africa, Latin America, the Asia-Pacific, and internationally. The company operates in two segments, Software & Subscription Services and Telematics Products.

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