Short Interest in Alarum Technologies Ltd. (NASDAQ:ALAR) Drops By 8.9%

Alarum Technologies Ltd. (NASDAQ:ALAR) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 189,400 shares, a decrease of 8.9% from the March 15th total of 207,900 shares. Based on an average daily trading volume, of 229,800 shares, the days-to-cover ratio is presently 0.8 days. Currently, 3.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Alarum Technologies

Large investors have recently modified their holdings of the company. Rhumbline Advisers raised its holdings in shares of Alarum Technologies by 143.0% in the 3rd quarter. Rhumbline Advisers now owns 11,627 shares of the company’s stock worth $39,000 after purchasing an additional 6,843 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Alarum Technologies in the 2nd quarter worth about $34,000. Finally, Cantor Fitzgerald L. P. purchased a new position in shares of Alarum Technologies in the 4th quarter worth about $1,190,000. 3.23% of the stock is currently owned by hedge funds and other institutional investors.

Alarum Technologies Stock Performance

NASDAQ ALAR opened at $23.79 on Wednesday. The business’s 50-day moving average price is $18.37 and its 200 day moving average price is $10.47. Alarum Technologies has a twelve month low of $1.85 and a twelve month high of $29.95. The company has a market capitalization of $152.49 million, a PE ratio of -13.83 and a beta of 0.81. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.06.

Alarum Technologies (NASDAQ:ALAR) last released its earnings results on Thursday, March 14th. The company reported $0.30 earnings per share for the quarter. Alarum Technologies had a positive return on equity of 6.52% and a negative net margin of 20.83%. The firm had revenue of $7.11 million for the quarter.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners increased their target price on Alarum Technologies from $10.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th.

Alarum Technologies Company Profile

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.