A2Z Cust2Mate Solutions (NASDAQ:AZ) Posts Quarterly Earnings Results, Beats Expectations By $0.49 EPS

A2Z Cust2Mate Solutions (NASDAQ:AZ) announced its quarterly earnings data on Wednesday. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.49, FiscalAI reports. The company had revenue of $3.65 million during the quarter, compared to analysts’ expectations of $4.63 million. A2Z Cust2Mate Solutions had a negative net margin of 488.70% and a negative return on equity of 86.58%.

A2Z Cust2Mate Solutions Trading Up 2.7%

AZ traded up $0.18 during trading on Wednesday, hitting $6.85. 153,096 shares of the company traded hands, compared to its average volume of 453,386. The company has a market cap of $286.67 million, a PE ratio of -6.09 and a beta of 1.43. The stock’s 50-day simple moving average is $6.10 and its two-hundred day simple moving average is $6.58. A2Z Cust2Mate Solutions has a 1 year low of $5.00 and a 1 year high of $12.36.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. increased its holdings in shares of A2Z Cust2Mate Solutions by 110.4% in the third quarter. Alyeska Investment Group L.P. now owns 2,000,987 shares of the company’s stock worth $15,988,000 after purchasing an additional 1,050,000 shares during the last quarter. Shay Capital LLC boosted its stake in A2Z Cust2Mate Solutions by 133.6% during the third quarter. Shay Capital LLC now owns 1,600,000 shares of the company’s stock valued at $12,784,000 after buying an additional 915,000 shares during the last quarter. Private Advisor Group LLC grew its holdings in A2Z Cust2Mate Solutions by 331.3% during the 4th quarter. Private Advisor Group LLC now owns 862,765 shares of the company’s stock valued at $5,617,000 after buying an additional 662,718 shares in the last quarter. Jain Global LLC bought a new stake in A2Z Cust2Mate Solutions in the 3rd quarter worth approximately $2,617,000. Finally, CIBC Bancorp USA Inc. bought a new stake in A2Z Cust2Mate Solutions in the 3rd quarter worth approximately $2,490,000. Hedge funds and other institutional investors own 12.64% of the company’s stock.

A2Z Cust2Mate Solutions declared that its Board of Directors has authorized a share buyback program on Wednesday, January 7th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to buy up to 6.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of A2Z Cust2Mate Solutions in a research report on Wednesday, January 21st. Zacks Research upgraded A2Z Cust2Mate Solutions to a “hold” rating in a report on Monday. Benchmark reissued a “buy” rating on shares of A2Z Cust2Mate Solutions in a research report on Monday, January 5th. Finally, Northland Securities assumed coverage on shares of A2Z Cust2Mate Solutions in a report on Friday, March 27th. They set an “outperform” rating and a $15.00 target price on the stock. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.00.

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.