Arlo Technologies (NYSE:ARLO) Trading 6.4% Higher

Arlo Technologies Inc (NYSE:ARLO) traded up 6.4% during mid-day trading on Friday . The stock traded as high as $3.04 and last traded at $2.98, 799,447 shares were traded during trading. A decline of 50% from the average session volume of 1,610,610 shares. The stock had previously closed at $2.80.

Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Arlo Technologies from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a research report on Monday. Bank of America restated an “underperform” rating and set a $3.50 price target (down from $5.00) on shares of Arlo Technologies in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $12.67.

The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average price is $3.97 and its two-hundred day moving average price is $4.09. The company has a market capitalization of $229.83 million and a PE ratio of -2.92.

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

Several institutional investors have recently bought and sold shares of ARLO. Bank of Montreal Can raised its stake in Arlo Technologies by 5,782.4% in the first quarter. Bank of Montreal Can now owns 10,000 shares of the company’s stock worth $41,000 after buying an additional 9,830 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in Arlo Technologies in the first quarter worth about $47,000. BNP Paribas Arbitrage SA raised its stake in Arlo Technologies by 6,578.5% in the first quarter. BNP Paribas Arbitrage SA now owns 17,698 shares of the company’s stock worth $73,000 after buying an additional 17,433 shares in the last quarter. Marshall Wace LLP bought a new position in Arlo Technologies in the first quarter worth about $74,000. Finally, Piedmont Investment Advisors Inc. bought a new position in Arlo Technologies in the first quarter worth about $77,000. Institutional investors own 84.17% of the company’s stock.

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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