Arlo Technologies (NYSE:ARLO) Trading 5.1% Higher

Arlo Technologies Inc (NYSE:ARLO) traded up 5.1% during mid-day trading on Friday . The company traded as high as $3.37 and last traded at $3.28, 578,372 shares were traded during trading. A decline of 55% from the average session volume of 1,290,738 shares. The stock had previously closed at $3.12.

Several equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Arlo Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Deutsche Bank started coverage on Arlo Technologies in a report on Monday, November 11th. They set a “buy” rating and a $4.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $5.20.

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.37 and a current ratio of 1.74. The business has a 50 day moving average of $3.22 and a two-hundred day moving average of $3.54.

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

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

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Arlo Technologies during the 3rd quarter worth $44,000. Marshall Wace LLP purchased a new stake in Arlo Technologies in the first quarter valued at about $74,000. Bank of Montreal Can raised its stake 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 buying an additional 9,243 shares during the last quarter. Metropolitan Life Insurance Co NY purchased a new stake in Arlo Technologies in the first quarter valued at about $80,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in Arlo Technologies in the second quarter worth about $92,000. 82.55% of the stock is owned by hedge funds and other institutional investors.

Arlo Technologies Company Profile (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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