Cable Car Capital LP Invests $3.49 Million in A2Z Cust2Mate Solutions Corp. $AZ

Key Points

• Cable Car Capital LP acquired 600,000 shares of A2Z Cust2Mate Solutions, valued at approximately $3.49 million, giving it a 1.35% stake. Institutional and hedge-fund ownership totaled 12.64% at quarter-end.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $15 target price. Zacks Research upgraded the stock from “strong sell” to “hold,” while Weiss Ratings maintained a “sell” rating.
• A2Z reported a quarterly loss of $0.16 per share but beat revenue expectations, posting $5.90 million versus the $3.54 million consensus estimate. The company also authorized a $20 million share repurchase program, covering up to 7.2% of outstanding shares.

Cable Car Capital LP acquired a new stake in shares of A2Z Cust2Mate Solutions Corp. (NASDAQ:AZ - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 600,000 shares of the company's stock, valued at approximately $3,492,000. Cable Car Capital LP owned about 1.35% of A2Z Cust2Mate Solutions at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research firms recently commented on AZ. Zacks Research raised shares of A2Z Cust2Mate Solutions from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Weiss Ratings restated a "sell (d-)" rating on shares of A2Z Cust2Mate Solutions in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, A2Z Cust2Mate Solutions currently has a consensus rating of "Hold" and a consensus target price of $15.00.

A2Z Cust2Mate Solutions Price Performance

Shares of A2Z Cust2Mate Solutions stock opened at $6.91 on Wednesday. The firm has a market cap of $307.77 million, a PE ratio of -8.33 and a beta of 1.16. A2Z Cust2Mate Solutions Corp. has a 12-month low of $4.97 and a 12-month high of $9.82. The company has a quick ratio of 6.56, a current ratio of 7.52 and a debt-to-equity ratio of 0.02. The company's fifty day simple moving average is $6.06 and its two-hundred day simple moving average is $6.36.

A2Z Cust2Mate Solutions (NASDAQ:AZ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02. The firm had revenue of $5.90 million during the quarter, compared to the consensus estimate of $3.54 million. A2Z Cust2Mate Solutions had a negative net margin of 241.67% and a negative return on equity of 49.91%. As a group, equities analysts expect that A2Z Cust2Mate Solutions Corp. will post -0.52 EPS for the current year.

A2Z Cust2Mate Solutions declared that its board has approved a share repurchase plan on Monday, July 6th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to reacquire up to 7.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

A2Z Cust2Mate Solutions Company Profile

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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