Arlo Technologies (NYSE:ARLO) Shares Up 5.2%

Arlo Technologies Inc (NYSE:ARLO) shot up 5.2% during mid-day trading on Friday . The stock traded as high as $2.84 and last traded at $2.83, 488,589 shares traded hands during mid-day trading. A decline of 63% from the average session volume of 1,306,166 shares. The stock had previously closed at $2.69.

Several research firms have issued reports on ARLO. Deutsche Bank began coverage on shares of Arlo Technologies in a research report on Monday, November 11th. They issued a “buy” rating and a $4.00 price target on the stock. Bank of America restated an “underperform” rating and issued a $3.50 price target (down from $5.00) on shares of Arlo Technologies in a research report on Wednesday, August 7th. Finally, Zacks Investment Research lowered shares of Arlo Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $5.20.

The business’s fifty day moving average price is $3.24 and its 200 day moving average price is $3.60. The company has a market capitalization of $208.96 million, a P/E ratio of -2.77 and a beta of 0.45. The company has a current ratio of 1.74, a quick ratio of 1.37 and a debt-to-equity ratio of 0.17.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.05. The company had revenue of $106.12 million during the quarter, compared to the consensus estimate of $102.14 million. Arlo Technologies had a negative net margin of 36.49% and a negative return on equity of 62.20%. The firm’s revenue for the quarter was down 19.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) EPS. Equities research analysts anticipate that Arlo Technologies Inc will post -1.76 EPS for the current year.

In other news, Director Ralph E. Faison purchased 36,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $2.88 per share, with a total value of $103,680.00. Following the acquisition, the director now directly owns 182,725 shares of the company’s stock, valued at approximately $526,248. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Blake Mcrae purchased 36,600 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average cost of $2.73 per share, with a total value of $99,918.00. Following the completion of the acquisition, the chief executive officer now directly owns 319,799 shares in the company, valued at $873,051.27. The disclosure for this purchase can be found here. 0.74% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio raised its stake in shares of Arlo Technologies by 3.5% in the second quarter. Strs Ohio now owns 125,000 shares of the company’s stock worth $501,000 after acquiring an additional 4,203 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Arlo Technologies by 1.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 433,724 shares of the company’s stock worth $1,740,000 after acquiring an additional 5,857 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Arlo Technologies by 92.4% in the second quarter. Bank of Montreal Can now owns 19,243 shares of the company’s stock worth $77,000 after acquiring an additional 9,243 shares during the last quarter. Alambic Investment Management L.P. raised its stake in shares of Arlo Technologies by 40.6% in the second quarter. Alambic Investment Management L.P. now owns 36,707 shares of the company’s stock worth $147,000 after acquiring an additional 10,607 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Arlo Technologies in the third quarter worth about $44,000. 83.39% of the stock is owned by institutional investors.

About Arlo Technologies (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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