Arlo Technologies’ (ARLO) “Buy” Rating Reaffirmed at BWS Financial

Arlo Technologies (NYSE:ARLO)‘s stock had its “buy” rating reaffirmed by research analysts at BWS Financial in a note issued to investors on Friday, Benzinga reports. They currently have a $24.00 price target on the stock. BWS Financial’s price objective indicates a potential upside of 98.84% from the stock’s current price.

Separately, Roth Mkm lifted their price objective on Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd.

Arlo Technologies Trading Up 0.8 %

ARLO traded up $0.10 on Friday, hitting $12.07. The company had a trading volume of 64,844 shares, compared to its average volume of 971,220. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.18 billion, a P/E ratio of -67.11 and a beta of 1.76. The company’s fifty day moving average price is $12.70 and its 200 day moving average price is $12.79. Arlo Technologies has a 1 year low of $7.77 and a 1 year high of $17.64.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. The firm had revenue of $127.45 million for the quarter, compared to analyst estimates of $125.03 million. During the same period in the prior year, the business posted ($0.08) EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities analysts expect that Arlo Technologies will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Amy M. Rothstein sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total transaction of $222,450.00. Following the completion of the transaction, the director now directly owns 75,032 shares of the company’s stock, valued at approximately $1,112,724.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ralph E. Faison acquired 8,842 shares of Arlo Technologies stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $11.89 per share, for a total transaction of $105,131.38. Following the acquisition, the director now owns 385,599 shares of the company’s stock, valued at $4,584,772.11. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Amy M. Rothstein sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total transaction of $222,450.00. Following the transaction, the director now owns 75,032 shares of the company’s stock, valued at approximately $1,112,724.56. The disclosure for this sale can be found here. 3.80% of the stock is owned by insiders.

Institutional Trading of Arlo Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Chilton Capital Management LLC acquired a new stake in Arlo Technologies during the 2nd quarter worth $33,000. GAMMA Investing LLC increased its position in shares of Arlo Technologies by 34.9% during the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after purchasing an additional 840 shares in the last quarter. CWM LLC lifted its holdings in shares of Arlo Technologies by 90.5% in the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after purchasing an additional 1,778 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Arlo Technologies in the 2nd quarter valued at about $62,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Arlo Technologies in the 2nd quarter valued at about $138,000. 83.18% of the stock is currently owned by institutional investors and hedge funds.

Arlo Technologies Company Profile

Arlo Technologies, Inc, together with its subsidiaries, provides a cloud-based platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers Arlo Essential Cameras and Doorbells (2nd Generation) delivers smart home protection, including automated privacy shield, 180-degree field of view, and 2K video resolution; Arlo Home Security System, an all-in-one multi-sensor that provides access to security experts for monitoring and responding to emergency situations; Arlo Pro 5S, a wireless 2K video resolution security camera; Arlo Go 2, a camera for monitoring remote areas, large properties, construction sites, vacation homes, boat or RV slips, and hard-to-access areas; Arlo Ultra 2 provides 4K video with HDR, an ultra-wide, 180-degree field of view, auto zoom and tracking on moving objects, and color night vision; and Arlo Floodlight Camera, a wire-free floodlight camera.