Arlo Technologies (ARLO) Downgraded by Bank of America to Underperform
Several other equities analysts also recently commented on ARLO. Zacks Investment Research downgraded shares of Arlo Technologies from a hold rating to a sell rating in a research note on Wednesday, November 28th. Imperial Capital reissued an outperform rating and issued a $29.00 price objective (down previously from $39.00) on shares of Arlo Technologies in a research note on Friday, January 4th. Finally, Cowen downgraded shares of Arlo Technologies from an outperform rating to a market perform rating and dropped their price objective for the company from $25.00 to $7.50 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Arlo Technologies presently has a consensus rating of Hold and an average target price of $18.60.
NYSE ARLO opened at $3.66 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. The company has a market cap of $274.14 million and a P/E ratio of -3.59. Arlo Technologies has a 1 year low of $3.62 and a 1 year high of $23.77.
A number of large investors have recently modified their holdings of the stock. Legal & General Group Plc bought a new position in Arlo Technologies in the 3rd quarter valued at approximately $27,000. Contravisory Investment Management Inc. bought a new position in Arlo Technologies in the 4th quarter valued at approximately $47,000. American International Group Inc. bought a new position in Arlo Technologies in the 3rd quarter valued at approximately $114,000. Pentwater Capital Management LP bought a new position in Arlo Technologies in the 3rd quarter valued at approximately $145,000. Finally, Virtu Financial LLC bought a new position in Arlo Technologies in the 4th quarter valued at approximately $109,000. 25.92% of the stock is owned by institutional investors and hedge funds.
About Arlo Technologies
Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular network Internet connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile monitoring; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.
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