Arlo Technologies (ARLO) Reaches New 52-Week Low at $13.91
Shares of Arlo Technologies Inc (NYSE:ARLO) reached a new 52-week low on Tuesday . The company traded as low as $13.91 and last traded at $14.05, with a volume of 23225 shares trading hands. The stock had previously closed at $14.51.
A number of analysts have weighed in on the company. Deutsche Bank assumed coverage on Arlo Technologies in a research note on Tuesday, August 28th. They issued a “buy” rating and a $28.00 price target on the stock. Bank of America assumed coverage on Arlo Technologies in a report on Tuesday, August 28th. They set a “neutral” rating and a $24.00 price objective on the stock. Raymond James assumed coverage on Arlo Technologies in a report on Tuesday, August 28th. They set a “market perform” rating on the stock. Guggenheim assumed coverage on Arlo Technologies in a report on Tuesday, August 28th. They set a “neutral” rating and a $26.00 price objective on the stock. Finally, Imperial Capital assumed coverage on Arlo Technologies in a report on Tuesday, August 28th. They set an “outperform” rating and a $39.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Arlo Technologies has a consensus rating of “Buy” and an average target price of $29.00.
In other news, insider Brian Busse acquired 2,500 shares of the company’s stock in a transaction on Tuesday, August 7th. The shares were bought at an average price of $16.00 per share, with a total value of $40,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christine Marie Gorjanc acquired 5,000 shares of the company’s stock in a transaction on Tuesday, August 7th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $80,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 32,500 shares of company stock worth $520,000.
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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