A2Z Cust2Mate Solutions (NASDAQ:AZ) Cut to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded A2Z Cust2Mate Solutions from “hold” to “strong sell”, adding to a mixed analyst picture that still leaves the stock with a consensus “hold” rating and a $15 price target.
• The company’s latest quarterly results showed a loss of $0.18 per share, wider than expected, though revenue of $3.32 million came in slightly above estimates.
• A2Z Cust2Mate Solutions also authorized a $20 million share repurchase program, which would allow it to buy back up to 7.2% of its outstanding shares.

A2Z Cust2Mate Solutions (NASDAQ:AZ - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on AZ. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of A2Z Cust2Mate Solutions in a research report on Monday, April 20th. Northland Securities started coverage on A2Z Cust2Mate Solutions in a research report on Friday, March 27th. They issued an "outperform" rating and a $15.00 price target for the company. Finally, Wall Street Zen raised A2Z Cust2Mate Solutions from a "sell" rating to a "hold" rating in a research note on Saturday, April 18th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, A2Z Cust2Mate Solutions presently has a consensus rating of "Hold" and a consensus price target of $15.00.

A2Z Cust2Mate Solutions Stock Performance

Shares of NASDAQ:AZ opened at $5.54 on Monday. The stock has a market capitalization of $246.75 million, a price-to-earnings ratio of -5.43 and a beta of 1.16. A2Z Cust2Mate Solutions has a 1-year low of $4.97 and a 1-year high of $11.90. The company has a 50 day moving average price of $6.18 and a 200 day moving average price of $6.55.

A2Z Cust2Mate Solutions (NASDAQ:AZ - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.03). A2Z Cust2Mate Solutions had a negative net margin of 415.62% and a negative return on equity of 62.55%. The company had revenue of $3.32 million during the quarter, compared to the consensus estimate of $3.06 million. On average, sell-side analysts expect that A2Z Cust2Mate Solutions will post -0.51 EPS for the current fiscal year.

A2Z Cust2Mate Solutions declared that its board has authorized a stock repurchase program on Friday, March 27th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 7.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Institutional Trading of A2Z Cust2Mate Solutions

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of A2Z Cust2Mate Solutions by 113.3% during the second quarter. Geode Capital Management LLC now owns 21,354 shares of the company's stock valued at $226,000 after buying an additional 11,342 shares in the last quarter. Marshall Wace LLP acquired a new stake in A2Z Cust2Mate Solutions during the 2nd quarter worth about $412,000. NewEdge Advisors LLC acquired a new stake in A2Z Cust2Mate Solutions during the 2nd quarter worth about $148,000. Honeycomb Asset Management LP purchased a new position in A2Z Cust2Mate Solutions during the 2nd quarter valued at about $1,773,000. Finally, Osaic Holdings Inc. purchased a new position in A2Z Cust2Mate Solutions during the 2nd quarter valued at about $146,000. Hedge funds and other institutional investors own 12.64% of the company's stock.

About A2Z Cust2Mate Solutions

A2Z Smart Technologies Corp., a technology company, focuses on the development and commercialization of retail smart cart solutions for grocery stores and supermarkets in Israel and internationally. The company operates through three segments: Precision Metal Parts, Advanced Engineering, and Smart Carts. It offers Cust2Mate system, which incorporates a smart cart that automatically calculates the value of the customers purchases in their smart cart without having to unload and reload their purchases at a customer checkout point.

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