CompoSecure (NASDAQ:CMPO) Shares Gap Up Following Analyst Upgrade

Key Points

• CompoSecure's share price gapped up after Benchmark raised its price target from $14.00 to $17.00, leading to the stock opening at $15.46 and last trading at $17.05.
• Hedge funds have shown increased interest in CompoSecure, with notable stakes growing significantly, including a 319.0% increase by Jupiter Asset Management.
• The company recently reported a quarterly earnings per share (EPS) of $0.25, surpassing analyst expectations of $0.19, and generated revenue of $103.90 million against a forecast of $103.22 million.

CompoSecure, Inc. (NASDAQ:CMPO - Get Free Report)'s share price gapped up before the market opened on Friday after Benchmark raised their price target on the stock from $14.00 to $17.00. The stock had previously closed at $14.40, but opened at $15.46. Benchmark currently has a buy rating on the stock. CompoSecure shares last traded at $17.05, with a volume of 755,722 shares.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC reiterated a "buy" rating and set a $15.00 price target on shares of CompoSecure in a report on Tuesday, May 13th. Wall Street Zen lowered CompoSecure from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.19.

Hedge Funds Weigh In On CompoSecure

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey grew its position in CompoSecure by 65.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,240 shares of the company's stock worth $144,000 after acquiring an additional 4,042 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of CompoSecure by 35.9% in the second quarter. Geode Capital Management LLC now owns 1,077,106 shares of the company's stock worth $15,179,000 after purchasing an additional 284,667 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of CompoSecure by 319.0% in the second quarter. Jupiter Asset Management Ltd. now owns 570,633 shares of the company's stock worth $8,040,000 after purchasing an additional 434,456 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of CompoSecure by 9.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,363 shares of the company's stock worth $174,000 after buying an additional 1,024 shares during the period. Finally, Wolverine Asset Management LLC raised its holdings in CompoSecure by 35.2% during the 2nd quarter. Wolverine Asset Management LLC now owns 17,631 shares of the company's stock valued at $248,000 after buying an additional 4,587 shares during the last quarter. 37.56% of the stock is currently owned by hedge funds and other institutional investors.

CompoSecure Stock Performance

The firm has a market cap of $1.76 billion, a PE ratio of -15.68 and a beta of 0.94. The company's 50-day simple moving average is $14.22 and its two-hundred day simple moving average is $13.19.

CompoSecure (NASDAQ:CMPO - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.06. CompoSecure had a negative net margin of 15.36% and a negative return on equity of 33.46%. The business had revenue of $103.90 million for the quarter, compared to the consensus estimate of $103.22 million. On average, analysts expect that CompoSecure, Inc. will post 1.02 EPS for the current year.

About CompoSecure

CompoSecure, Inc manufactures and designs metal, composite, and proprietary financial transaction cards in the United States and internationally. Its primary metal form factors include embedded, metal veneer lite, metal veneer, and full metal products. The company also offers Arculus Cold Storage Wallet, a three-factor authentication solution, which supports specific digital assets, including Bitcoin, Ethereum, non-fungible tokens and others.

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