Canaccord Genuity Group Lowers Alarum Technologies (NASDAQ:ALAR) Price Target to $25.00

Alarum Technologies (NASDAQ:ALAR) had its target price reduced by Canaccord Genuity Group from $28.00 to $25.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 93.05% from the stock’s previous close.

Separately, Alliance Global Partners cut their price target on Alarum Technologies from $34.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, August 26th.

Alarum Technologies Price Performance

ALAR stock opened at $12.95 on Tuesday. Alarum Technologies has a 1 year low of $4.20 and a 1 year high of $46.69. The stock has a 50-day simple moving average of $13.23 and a 200-day simple moving average of $22.15. 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 firm has a market cap of $88.97 million, a P/E ratio of 11.99 and a beta of 0.66.

Alarum Technologies (NASDAQ:ALAR) last issued its quarterly earnings data on Monday, August 26th. The company reported $0.40 earnings per share for the quarter. Alarum Technologies had a return on equity of 51.88% and a net margin of 22.21%. The firm had revenue of $8.88 million during the quarter.

Hedge Funds Weigh In On Alarum Technologies

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in shares of Alarum Technologies in the first quarter worth $56,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Alarum Technologies during the second quarter valued at $58,000. XTX Topco Ltd grew its stake in Alarum Technologies by 55.7% in the third quarter. XTX Topco Ltd now owns 10,820 shares of the company’s stock valued at $115,000 after purchasing an additional 3,870 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in Alarum Technologies in the second quarter valued at about $164,000. Finally, ARS Investment Partners LLC purchased a new position in Alarum Technologies in the second quarter valued at about $246,000. 3.23% of the stock is currently owned by institutional investors and hedge funds.

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.