A2Z Cust2Mate Solutions (NASDAQ:AZ) Shares Cross Above 50 Day Moving Average - Time to Sell?

Key Points

• A2Z Cust2Mate shares rose 7.4%, trading at $6.27 after crossing above the 50-day moving average of $6.04; the stock’s 200-day average is $6.34.
• Analyst sentiment is mixed, with an overall “Hold” rating and a consensus price target of $15.00. Ratings include two Buys, one Hold and one Sell.
• The company exceeded quarterly expectations, reporting an adjusted loss of $0.16 per share versus estimates of $0.18 and revenue of $5.90 million versus $3.54 million expected; its board also authorized a $20 million share repurchase program.

A2Z Cust2Mate Solutions Corp. (NASDAQ:AZ - Get Free Report) shares crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $6.04 and traded as high as $6.34. A2Z Cust2Mate Solutions shares last traded at $6.27, with a volume of 289,114 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have commented on AZ shares. Zacks Research raised shares of A2Z Cust2Mate Solutions from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of A2Z Cust2Mate Solutions in a research note on Thursday, October 15th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, A2Z Cust2Mate Solutions currently has an average rating of "Hold" and a consensus target price of $15.00.

A2Z Cust2Mate Solutions Stock Up 7.4%

The stock has a 50-day simple moving average of $6.04 and a 200-day simple moving average of $6.34. The firm has a market capitalization of $279.30 million, a PE ratio of -7.55 and a beta of 1.17.

A2Z Cust2Mate Solutions (NASDAQ:AZ - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.16) earnings per share (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. Equities analysts forecast that A2Z Cust2Mate Solutions Corp. will post -0.52 earnings per share for the current fiscal year.

A2Z Cust2Mate Solutions announced that its Board of Directors has authorized a stock repurchase program on Monday, July 6th that permits the company to repurchase $20 million in outstanding shares. This repurchase authorization permits the company to buy up to 7.2% of its stock through open market purchases. Share repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On A2Z Cust2Mate Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AZ. Luxor Capital Group LP purchased a new position in shares of A2Z Cust2Mate Solutions in the first quarter worth about $19,212,000. Weybosset Research & Management LLC lifted its stake in shares of A2Z Cust2Mate Solutions by 8.7% during the 3rd quarter. Weybosset Research & Management LLC now owns 1,990,949 shares of the company's stock valued at $11,448,000 after buying an additional 160,075 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of A2Z Cust2Mate Solutions by 12.7% during the 1st quarter. Private Advisor Group LLC now owns 971,946 shares of the company's stock valued at $6,483,000 after buying an additional 109,181 shares in the last quarter. J. Goldman & Co LP bought a new position in A2Z Cust2Mate Solutions in the 2nd quarter worth approximately $3,774,000. Finally, Cable Car Capital LP bought a new position in A2Z Cust2Mate Solutions in the 2nd quarter worth approximately $3,492,000. Institutional investors own 12.64% of the company's stock.

About A2Z Cust2Mate Solutions

A2Z Cust2Mate Solutions Corp. is a technology company focused on transforming the in-store grocery shopping experience through smart shopping carts and retail technology. The company develops the Cust2Mate platform, which combines a shopping cart, touchscreen interface and software designed to support customer engagement and checkout activities.

Cust2Mate's solutions are intended to help grocery retailers provide services such as product discovery, in-store navigation, digital promotions, personalized offers and self-checkout.

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