Alarum Technologies (NASDAQ:ALAR) Stock Price Up 4% – Here’s Why

Alarum Technologies Ltd. Sponsored ADR (NASDAQ:ALAR) shares rose 4% during mid-day trading on Monday . The company traded as high as $7.50 and last traded at $7.32. Approximately 56,491 shares changed hands during mid-day trading, an increase of 75% from the average daily volume of 32,259 shares. The stock had previously closed at $7.04.

Analysts Set New Price Targets

ALAR has been the topic of a number of research reports. Canaccord Genuity Group dropped their price objective on shares of Alarum Technologies from $27.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, March 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Alarum Technologies in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.00.

Alarum Technologies Stock Up 4.2%

The firm has a market cap of $52.20 million, a PE ratio of 51.36 and a beta of 1.51. The firm’s fifty day simple moving average is $6.70 and its two-hundred day simple moving average is $9.27.

Alarum Technologies (NASDAQ:ALAR) last issued its quarterly earnings results on Thursday, March 19th. The company reported $0.15 earnings per share for the quarter. Alarum Technologies had a net margin of 2.36% and a return on equity of 15.59%. The business had revenue of $11.82 million for the quarter, compared to the consensus estimate of $12.01 million.

Hedge Funds Weigh In On Alarum Technologies

Several large investors have recently added to or reduced their stakes in ALAR. Jones Financial Companies Lllp lifted its holdings in shares of Alarum Technologies by 2,102.9% in the first quarter. Jones Financial Companies Lllp now owns 6,168 shares of the company’s stock worth $39,000 after buying an additional 5,888 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Alarum Technologies in the second quarter worth $142,000. Renaissance Technologies LLC lifted its holdings in shares of Alarum Technologies by 34.6% in the fourth quarter. Renaissance Technologies LLC now owns 17,500 shares of the company’s stock worth $150,000 after buying an additional 4,500 shares in the last quarter. Finally, Altshuler Shaham Ltd purchased a new position in shares of Alarum Technologies in the fourth quarter worth $4,756,000. Hedge funds and other institutional investors own 3.23% of the company’s stock.

About Alarum Technologies

Alarum Technologies Ltd. provides internet access and web data collection solutions in North, South, and Central America, Europe, Southeast Asia, the Middle East, and Africa. The company operates through two segments, Enterprise Internet Access Solutions and Consumer Internet Access Solutions. The company offers security blanket against ransomware, viruses, phishing, and other online threats, as well as secured and encrypted connection, masking the customers online activity and keeping them safe from hackers.