Wall Street Zen Upgrades Alarum Technologies (NASDAQ:ALAR) to "Hold"

Key Points

• Alarum Technologies (NASDAQ:ALAR) was upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment.
• Canaccord Genuity Group increased its price target for Alarum Technologies from $15.00 to $22.00, maintaining a "buy" rating on the stock.
• Shares of Alarum Technologies opened at $14.42 on Friday, with a market capitalization of $102.24 million and a 52-week high of $21.50.

Wall Street Zen upgraded shares of Alarum Technologies (NASDAQ:ALAR - Free Report) from a sell rating to a hold rating in a research note published on Friday morning.

Separately, Canaccord Genuity Group upped their price target on shares of Alarum Technologies from $15.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Alarum Technologies presently has a consensus rating of "Buy" and an average price target of $22.00.

Alarum Technologies Stock Up 4.4%

Shares of NASDAQ:ALAR traded up $0.70 during trading on Friday, reaching $16.50. The stock had a trading volume of 81,480 shares, compared to its average volume of 121,668. The business has a fifty day moving average price of $14.14 and a 200-day moving average price of $10.20. The stock has a market cap of $116.99 million, a P/E ratio of 21.71 and a beta of 1.51. Alarum Technologies has a fifty-two week low of $5.45 and a fifty-two week high of $21.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in shares of Alarum Technologies in the second quarter valued at $142,000. GAMMA Investing LLC raised its holdings in Alarum Technologies by 36.7% in the second quarter. GAMMA Investing LLC now owns 9,231 shares of the company's stock valued at $125,000 after acquiring an additional 2,479 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Alarum Technologies by 2,102.9% in the first quarter. Jones Financial Companies Lllp now owns 6,168 shares of the company's stock valued at $39,000 after acquiring an additional 5,888 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in Alarum Technologies in the first quarter valued at $158,000. Finally, Heck Capital Advisors LLC acquired a new stake in Alarum Technologies in the fourth quarter valued at $32,000. 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.