Arlo Technologies (NYSE:ARLO) Shares Down 5.9%
Arlo Technologies Inc (NYSE:ARLO) was down 5.9% on Friday . The company traded as low as $2.71 and last traded at $2.72, approximately 638,510 shares traded hands during trading. A decline of 59% from the average daily volume of 1,575,464 shares. The stock had previously closed at $2.89.
A number of equities analysts recently weighed in on ARLO shares. Bank of America reissued an “underperform” rating and set a $3.50 price objective (down from $5.00) on shares of Arlo Technologies in a report on Wednesday, August 7th. Zacks Investment Research upgraded Arlo Technologies from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $12.67.
The company has a debt-to-equity ratio of 0.16, a current ratio of 2.04 and a quick ratio of 1.43. The company has a market cap of $218.60 million and a price-to-earnings ratio of -2.67. The firm’s 50 day simple moving average is $3.79 and its 200-day simple moving average is $3.98.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new position in Arlo Technologies in the first quarter valued at about $103,000. SG Americas Securities LLC purchased a new position in Arlo Technologies in the first quarter valued at about $207,000. First Citizens Bank & Trust Co. purchased a new position in Arlo Technologies in the second quarter valued at about $113,000. Louisiana State Employees Retirement System purchased a new position in Arlo Technologies in the first quarter valued at about $115,000. Finally, Water Island Capital LLC increased its holdings in Arlo Technologies by 246.2% in the first quarter. Water Island Capital LLC now owns 81,101 shares of the company’s stock valued at $335,000 after buying an additional 57,678 shares in the last quarter. 87.25% of the stock is owned by hedge funds and other institutional investors.
Arlo Technologies Company Profile (NYSE:ARLO)
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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