Alarum Technologies (NASDAQ:ALAR) Upgraded at Canaccord Genuity Group

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

Separately, Canaccord Genuity Group assumed coverage on Alarum Technologies in a report on Wednesday, July 3rd. They issued a hold rating and a $42.00 price target on the stock.

Alarum Technologies Stock Performance

Shares of ALAR opened at $28.20 on Thursday. The stock’s 50-day simple moving average is $34.27 and its 200 day simple moving average is $24.25. The stock has a market capitalization of $191.84 million, a price-to-earnings ratio of -19.18 and a beta of 0.74. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.47 and a current ratio of 2.47. Alarum Technologies has a 52-week low of $2.07 and a 52-week high of $46.69.

Alarum Technologies (NASDAQ:ALAR) last released 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.

Hedge Funds Weigh In On Alarum Technologies

A number of large investors have recently modified their holdings of ALAR. Cantor Fitzgerald L. P. purchased a new position in shares of Alarum Technologies during the 4th quarter valued at about $1,190,000. Acadian Asset Management LLC purchased a new position in shares of Alarum Technologies during the 1st quarter valued at about $56,000. Cetera Advisors LLC purchased a new position in shares of Alarum Technologies during the 1st quarter valued at about $366,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Alarum Technologies during the 2nd quarter worth approximately $58,000. Finally, ARS Investment Partners LLC bought a new position in Alarum Technologies during the 2nd quarter worth approximately $246,000. 3.23% of the stock is owned by hedge funds and other institutional investors.

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.