Arlo Technologies Inc (NYSE:ARLO) Short Interest Up 36.7% in August

Arlo Technologies Inc (NYSE:ARLO) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 5,250,700 shares, an increase of 36.7% from the July 31st total of 3,841,800 shares. Currently, 7.2% of the company’s stock are short sold. Based on an average trading volume of 716,400 shares, the days-to-cover ratio is currently 7.3 days.

A number of large investors have recently added to or reduced their stakes in ARLO. Bank of Montreal Can grew its stake in Arlo Technologies by 5,782.4% during the 1st quarter. Bank of Montreal Can now owns 10,000 shares of the company’s stock valued at $41,000 after acquiring an additional 9,830 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in shares of Arlo Technologies during the 1st quarter valued at about $47,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Arlo Technologies by 6,578.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 17,698 shares of the company’s stock valued at $73,000 after buying an additional 17,433 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Arlo Technologies during the 1st quarter valued at about $74,000. Finally, Piedmont Investment Advisors Inc. acquired a new stake in shares of Arlo Technologies during the 1st quarter valued at about $77,000. 87.09% of the stock is currently owned by institutional investors.

NYSE:ARLO traded down $0.06 on Friday, hitting $3.68. 10,772 shares of the company’s stock traded hands, compared to its average volume of 542,329. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 0.16. Arlo Technologies has a 1 year low of $2.71 and a 1 year high of $19.88. The firm has a 50-day moving average price of $3.39 and a 200-day moving average price of $3.89. The company has a market cap of $280.80 million and a PE ratio of -3.64.

Arlo Technologies (NYSE:ARLO) last released its earnings results on Tuesday, August 6th. The company reported ($0.45) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.03. Arlo Technologies had a negative return on equity of 45.02% and a negative net margin of 29.90%. The company had revenue of $83.60 million for the quarter, compared to analysts’ expectations of $77.23 million. During the same quarter in the previous year, the business posted ($0.29) EPS. The business’s revenue for the quarter was down 24.7% on a year-over-year basis. On average, research analysts forecast that Arlo Technologies will post -1.61 EPS for the current fiscal year.

ARLO has been the topic of several research analyst reports. Zacks Investment Research raised Arlo Technologies from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research note on Monday, August 12th. Bank of America reaffirmed an “underperform” rating and set a $3.50 target price (down previously from $5.00) on shares of Arlo Technologies in a research note on Wednesday, August 7th.

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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