Alarum Technologies (NASDAQ:ALAR) Upgraded by Canaccord Genuity Group to “Buy”

Canaccord Genuity Group upgraded shares of Alarum Technologies (NASDAQ:ALAR) from a hold rating to a buy rating in a research note released on Thursday morning, Marketbeat Ratings reports. The firm currently has $42.00 target price on the stock.

Separately, Canaccord Genuity Group raised Alarum Technologies from a hold rating to a buy rating and set a $42.00 price objective for the company in a report on Thursday.

Alarum Technologies Trading Up 4.4 %

Shares of ALAR opened at $28.20 on Thursday. The business’s 50-day moving average price is $34.27 and its 200-day moving average price is $24.25. Alarum Technologies has a twelve month low of $2.07 and a twelve month high of $46.69. The stock has a market cap of $191.84 million, a PE ratio of -19.18 and a beta of 0.74. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.04.

Alarum Technologies (NASDAQ:ALAR) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $0.45 earnings per share for the quarter. Alarum Technologies had a positive return on equity of 35.79% and a negative net margin of 11.62%. The firm had revenue of $8.38 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cantor Fitzgerald L. P. purchased a new position in shares of Alarum Technologies during the fourth quarter worth about $1,190,000. Cetera Advisors LLC purchased a new stake in Alarum Technologies in the first quarter worth approximately $366,000. ARS Investment Partners LLC purchased a new stake in Alarum Technologies in the second quarter worth approximately $246,000. Acadian Asset Management LLC purchased a new stake in Alarum Technologies in the first quarter worth approximately $56,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Alarum Technologies in the second quarter worth approximately $58,000. Hedge funds and other institutional investors own 3.23% of the company’s stock.

Alarum Technologies Company Profile

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.