Alarum Technologies Ltd. (NASDAQ:ALAR) Sees Significant Growth in Short Interest

Alarum Technologies Ltd. (NASDAQ:ALAR) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 390,200 shares, an increase of 16.5% from the October 15th total of 335,000 shares. Currently, 5.9% of the shares of the company are short sold. Based on an average daily trading volume, of 338,200 shares, the days-to-cover ratio is currently 1.2 days.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ALAR. Alliance Global Partners reduced their target price on shares of Alarum Technologies from $34.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Canaccord Genuity Group raised Alarum Technologies from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Thursday, July 25th. Finally, Canaccord Genuity Group cut their target price on Alarum Technologies from $42.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th.

Alarum Technologies Price Performance

Shares of NASDAQ:ALAR opened at $14.27 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.45 and a current ratio of 2.45. The business’s fifty day moving average price is $12.91 and its two-hundred day moving average price is $22.98. The stock has a market cap of $98.02 million, a PE ratio of 18.29 and a beta of 0.66. Alarum Technologies has a one year low of $4.20 and a one year high of $46.69.

Alarum Technologies (NASDAQ:ALAR) last released its quarterly earnings results on Monday, August 26th. The company reported $0.40 earnings per share (EPS) for the quarter. The company had revenue of $8.88 million for the quarter. Alarum Technologies had a net margin of 12.70% and a return on equity of 54.68%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd increased its holdings in shares of Alarum Technologies by 55.7% during the 3rd quarter. XTX Topco Ltd now owns 10,820 shares of the company’s stock worth $115,000 after buying an additional 3,870 shares during the last quarter. Independent Advisor Alliance purchased a new position in shares of Alarum Technologies in the 3rd quarter worth about $386,000. ARK Investment Management LLC acquired a new position in shares of Alarum Technologies in the 3rd quarter valued at about $785,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Alarum Technologies during the 2nd quarter worth about $164,000. Finally, Altshuler Shaham Ltd acquired a new stake in Alarum Technologies during the 2nd quarter worth approximately $3,229,000. Institutional investors and hedge funds own 3.23% of the company’s stock.

About Alarum Technologies

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.