Arlo Technologies (NYSE:ARLO) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Arlo Technologies (NYSE:ARLO) from a buy rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

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. “

Separately, Bank of America reissued an underperform rating and issued a $3.50 price objective (down previously from $5.00) on shares of Arlo Technologies in a research note on Wednesday, August 7th.

NYSE ARLO opened at $3.20 on Tuesday. The firm has a 50 day simple moving average of $3.29 and a 200-day simple moving average of $3.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.04 and a quick ratio of 1.43. Arlo Technologies has a one year low of $2.71 and a one year high of $15.12.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.45) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.03. Arlo Technologies had a negative net margin of 29.90% and a negative return on equity of 45.02%. The business had revenue of $83.60 million during the quarter, compared to analyst estimates of $77.23 million. During the same quarter last year, the firm posted ($0.29) earnings per share. The business’s revenue for the quarter was down 24.7% compared to the same quarter last year. Equities research analysts expect that Arlo Technologies will post -1.61 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. HHM Wealth Advisors LLC purchased a new position in shares of Arlo Technologies in the first quarter valued at approximately $47,000. Marshall Wace LLP acquired a new stake in Arlo Technologies in the first quarter valued at approximately $74,000. Bank of Montreal Can raised its holdings in Arlo Technologies by 92.4% in the second quarter. Bank of Montreal Can now owns 19,243 shares of the company’s stock valued at $77,000 after acquiring an additional 9,243 shares in the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in Arlo Technologies in the first quarter valued at approximately $80,000. Finally, Eidelman Virant Capital acquired a new stake in Arlo Technologies in the second quarter valued at approximately $80,000. 86.98% of the stock is owned by institutional investors and hedge funds.

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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