Canaccord Genuity Group Upgrades Alarum Technologies (NASDAQ:ALAR) to “Buy”

Canaccord Genuity Group upgraded shares of Alarum Technologies (NASDAQ:ALAR) from a hold rating to a buy rating in a report issued on Thursday, MarketBeat Ratings reports. Canaccord Genuity Group currently has $42.00 price target on the stock.

Separately, Canaccord Genuity Group raised shares of Alarum Technologies from a hold rating to a buy rating and set a $42.00 price target for the company in a research report on Thursday.

Alarum Technologies Trading Up 4.4 %

ALAR opened at $28.20 on Thursday. The business’s 50-day simple moving average is $34.27 and its 200-day simple moving average is $24.35. The company has a market cap of $192.89 million, a P/E ratio of -19.18 and a beta of 0.74. Alarum Technologies has a one year low of $2.07 and a one year high of $46.69. 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 (NASDAQ:ALAR) last released its quarterly earnings data on Tuesday, May 21st. The company reported $0.45 earnings per share for the quarter. The company had revenue of $8.38 million for the quarter. Alarum Technologies had a negative net margin of 11.62% and a positive return on equity of 35.79%.

Hedge Funds Weigh In On Alarum Technologies

Hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Alarum Technologies during the 2nd quarter worth $58,000. Acadian Asset Management LLC acquired a new position in Alarum Technologies in the first quarter valued at $56,000. ARS Investment Partners LLC purchased a new stake in shares of Alarum Technologies in the second quarter valued at about $246,000. Cetera Advisors LLC acquired a new stake in shares of Alarum Technologies during the first quarter worth about $366,000. Finally, Cantor Fitzgerald L. P. purchased a new position in shares of Alarum Technologies during the fourth quarter worth about $1,190,000. 3.23% of the stock is currently 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.