Canaccord Genuity Reaffirms Hold Rating for Numerex Corp. (NMRX)
Canaccord Genuity reissued their hold rating on shares of Numerex Corp. (NASDAQ:NMRX) in a research note issued to investors on Friday morning. Canaccord Genuity currently has a $4.50 target price on the communications equipment provider’s stock.
Several other analysts have also weighed in on the company. Zacks Investment Research raised Numerex Corp. from a sell rating to a hold rating in a report on Wednesday, July 12th. ValuEngine lowered Numerex Corp. from a sell rating to a strong sell rating in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $5.00.
Shares of Numerex Corp. (NASDAQ NMRX) opened at $3.92 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.11 and a quick ratio of 0.73.
A number of hedge funds have recently made changes to their positions in the stock. LMR Partners LLP acquired a new stake in Numerex Corp. in the 2nd quarter valued at $170,000. Susquehanna International Group LLP bought a new position in Numerex Corp. in the 2nd quarter valued at $197,000. Finally, Legal & General Group Plc raised its position in Numerex Corp. by 7,923.3% in the 2nd quarter. Legal & General Group Plc now owns 161,911 shares of the communications equipment provider’s stock valued at $798,000 after purchasing an additional 159,893 shares during the last quarter. 23.91% of the stock is currently owned by institutional investors and hedge funds.
About Numerex Corp.
Numerex Corp. is a holding company. The Company, through its subsidiaries, provides managed enterprise solutions, which enable the Internet of Things (IoT). The Company offers solutions to incorporate the IoT building blocks, such as device, network, application and platform. Its technology encompasses a range of the IoT ecosystem and delivers solutions for enterprise users.
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