Canaccord Genuity Group Has Lowered Expectations for Alarum Technologies (NASDAQ:ALAR) Stock Price

Alarum Technologies (NASDAQ:ALAR) had its price objective cut by analysts at Canaccord Genuity Group from $27.00 to $14.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 122.22% from the company’s previous close.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Alarum Technologies in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.00.

Alarum Technologies Stock Up 3.8%

NASDAQ ALAR opened at $6.30 on Friday. The company has a 50-day simple moving average of $7.49 and a two-hundred day simple moving average of $10.72. The firm has a market cap of $45.68 million, a price-to-earnings ratio of 45.00 and a beta of 1.41. Alarum Technologies has a 12-month low of $5.45 and a 12-month high of $18.00.

Alarum Technologies (NASDAQ:ALAR) last released its earnings results on Thursday, March 19th. The company reported $0.15 earnings per share for the quarter. Alarum Technologies had a return on equity of 15.97% and a net margin of 2.36%.The business had revenue of $11.82 million for the quarter, compared to analyst estimates of $12.01 million.

Institutional Investors Weigh In On Alarum Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new stake in shares of Alarum Technologies in the fourth quarter valued at about $4,756,000. XTX Topco Ltd bought a new position in Alarum Technologies during the 2nd quarter worth about $142,000. Jones Financial Companies Lllp increased its position in Alarum Technologies by 2,102.9% during the 1st quarter. Jones Financial Companies Lllp now owns 6,168 shares of the company’s stock valued at $39,000 after purchasing an additional 5,888 shares during the period. Finally, Renaissance Technologies LLC increased its position in Alarum Technologies by 34.6% during the 4th quarter. Renaissance Technologies LLC now owns 17,500 shares of the company’s stock valued at $150,000 after purchasing an additional 4,500 shares during the period. 3.23% of the stock is owned by institutional investors.

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.