Canaccord Genuity Raises Numerex Corp. (NMRX) Price Target to $5.50
Numerex Corp. (NASDAQ:NMRX) had its price objective hoisted by Canaccord Genuity from $4.50 to $5.50 in a research report released on Wednesday morning. Canaccord Genuity currently has a hold rating on the communications equipment provider’s stock.
Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Numerex Corp. from a sell rating to a hold rating in a research note on Wednesday, July 12th. B. Riley restated a buy rating and set a $5.50 target price on shares of Numerex Corp. in a research report on Monday, June 5th.
Numerex Corp. (NASDAQ:NMRX) traded down 0.50% during trading on Wednesday, reaching $4.02. 36,514 shares of the company’s stock traded hands. The stock’s market cap is $78.61 million. The firm’s 50 day moving average price is $4.62 and its 200-day moving average price is $4.74. Numerex Corp. has a one year low of $3.86 and a one year high of $9.01.
Numerex Corp. (NASDAQ:NMRX) last announced its quarterly earnings data on Tuesday, May 9th. The communications equipment provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by $0.09. The firm had revenue of $16.39 million during the quarter, compared to analyst estimates of $16.20 million. Numerex Corp. had a negative net margin of 31.83% and a negative return on equity of 21.75%. On average, equities analysts anticipate that Numerex Corp. will post ($0.38) earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in shares of Numerex Corp. by 1.8% in the fourth quarter. Renaissance Technologies LLC now owns 259,800 shares of the communications equipment provider’s stock valued at $1,923,000 after buying an additional 4,500 shares during the last quarter. Punch & Associates Investment Management Inc. raised its stake in shares of Numerex Corp. by 17.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 324,245 shares of the communications equipment provider’s stock valued at $1,547,000 after buying an additional 47,400 shares during the last quarter. Princeton Portfolio Strategies Group LLC bought a new stake in shares of Numerex Corp. during the first quarter valued at approximately $144,000. LMR Partners LLP bought a new stake in shares of Numerex Corp. during the second quarter valued at approximately $170,000. Finally, Legal & General Group Plc raised its stake in shares of Numerex Corp. by 7,923.3% in the second quarter. Legal & General Group Plc now owns 161,911 shares of the communications equipment provider’s stock valued at $798,000 after buying an additional 159,893 shares during the last quarter. Institutional investors own 28.38% of the company’s stock.
About Numerex Corp.
Numerex Corp. is a holding company. The Company, through its subsidiaries, provides managed enterprise solutions, which enable the Internet of Things (IoT). The Company offers solutions to incorporate the IoT building blocks, such as device, network, application and platform. Its technology encompasses a range of the IoT ecosystem and delivers solutions for enterprise users.
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