A2Z Cust2Mate Solutions (NASDAQ:AZ) Posts Earnings Results, Beats Expectations By $0.02 EPS

A2Z Cust2Mate Solutions (NASDAQ:AZ) issued its earnings results on Wednesday. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02, Zacks reports. A2Z Cust2Mate Solutions had a negative net margin of 415.62% and a negative return on equity of 62.55%.

A2Z Cust2Mate Solutions Price Performance

AZ stock traded down $0.23 during trading on Wednesday, reaching $6.47. The company had a trading volume of 217,591 shares, compared to its average volume of 407,585. A2Z Cust2Mate Solutions has a 52 week low of $4.97 and a 52 week high of $10.14. The business has a 50 day moving average of $5.85 and a 200 day moving average of $6.35. The company has a market cap of $288.17 million, a P/E ratio of -6.34 and a beta of 1.16.

A2Z Cust2Mate Solutions declared that its board has initiated a share buyback program on Monday, July 6th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 7.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

AZ has been the subject of a number of recent analyst reports. Zacks Research lowered shares of A2Z Cust2Mate Solutions from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Weiss Ratings restated a “sell (d-)” rating on shares of A2Z Cust2Mate Solutions in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of A2Z Cust2Mate Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, A2Z Cust2Mate Solutions presently has a consensus rating of “Hold” and a consensus price target of $15.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AZ. Osaic Holdings Inc. purchased a new position in shares of A2Z Cust2Mate Solutions during the 2nd quarter worth approximately $146,000. NewEdge Advisors LLC purchased a new position in shares of A2Z Cust2Mate Solutions in the 2nd quarter valued at approximately $148,000. Geode Capital Management LLC lifted its stake in shares of A2Z Cust2Mate Solutions by 113.3% in the 2nd quarter. Geode Capital Management LLC now owns 21,354 shares of the company’s stock valued at $226,000 after purchasing an additional 11,342 shares during the period. Squarepoint Ops LLC bought a new stake in shares of A2Z Cust2Mate Solutions during the fourth quarter valued at approximately $178,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of A2Z Cust2Mate Solutions during the fourth quarter valued at approximately $206,000. Hedge funds and other institutional investors own 12.64% of the company’s stock.

About A2Z Cust2Mate Solutions

A2Z Smart Technologies Corp., a technology company, focuses on the development and commercialization of retail smart cart solutions for grocery stores and supermarkets in Israel and internationally. The company operates through three segments: Precision Metal Parts, Advanced Engineering, and Smart Carts. It offers Cust2Mate system, which incorporates a smart cart that automatically calculates the value of the customers purchases in their smart cart without having to unload and reload their purchases at a customer checkout point.