Arlo Technologies (NYSE:ARLO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

According to Zacks, “Arlo Technologies, Inc. product design, wireless connectivity, cloud infrastructure and cutting-edge AI capabilities focuses on delivering a seamless, smart home experience. The company’s cloud-based platform provides users with visibility, insight and a powerful means to help protect and connect in real-time. Its connected devices, including wire-free smart Wi-Fi and LTE-enabled cameras, advanced baby monitors and smart security lights. Arlo Technologies, Inc. is based in San Jose, United States. “

Several other research firms have also commented on ARLO. Imperial Capital reissued an “outperform” rating and issued a $29.00 price objective (down from $39.00) on shares of Arlo Technologies in a research report on Friday, January 4th. Cowen lowered Arlo Technologies from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $25.00 to $7.50 in a research report on Wednesday, February 6th. Finally, Bank of America lowered Arlo Technologies from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $18.60.

NYSE:ARLO opened at $4.36 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.42 and a current ratio of 1.83. Arlo Technologies has a 12 month low of $3.37 and a 12 month high of $23.77. The stock has a market capitalization of $317.81 million and a price-to-earnings ratio of -4.27.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings data on Tuesday, February 5th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.04. Arlo Technologies had a negative return on equity of 31.78% and a negative net margin of 14.49%. The company had revenue of $129.30 million for the quarter, compared to analyst estimates of $128.58 million. During the same period last year, the company posted $0.10 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Arlo Technologies will post -1.59 EPS for the current fiscal year.

In other Arlo Technologies news, CEO Matthew Blake Mcrae bought 45,000 shares of the stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $4.46 per share, for a total transaction of $200,700.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ralph E. Faison bought 50,000 shares of the stock in a transaction dated Wednesday, February 27th. The shares were acquired at an average price of $4.24 per share, with a total value of $212,000.00. The disclosure for this purchase can be found here.

Large investors have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new position in Arlo Technologies in the third quarter worth about $27,000. Contravisory Investment Management Inc. acquired a new position in Arlo Technologies in the fourth quarter worth about $47,000. Virtu Financial LLC acquired a new position in Arlo Technologies in the fourth quarter worth about $109,000. American International Group Inc. acquired a new position in Arlo Technologies in the third quarter worth about $114,000. Finally, New York State Common Retirement Fund acquired a new position in Arlo Technologies in the fourth quarter worth about $131,000. Institutional investors and hedge funds own 28.90% of the company’s stock.

Arlo Technologies Company Profile

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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