Duos Technologies Group (NASDAQ:DUOT) Stock Price Target Lowered at Cantor Fitzgerald

Duos Technologies Group (NASDAQ:DUOT) had its price objective lowered by investment analysts at Cantor Fitzgerald from $27.00 to $24.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 316.67% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Duos Technologies Group from a “hold” rating to a “sell” rating in a research note on Saturday, October 10th. Ascendiant Capital Markets upped their target price on Duos Technologies Group from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, September 14th. Chardan Capital assumed coverage on Duos Technologies Group in a report on Friday, October 9th. They issued a “neutral” rating and a $9.50 price target on the stock. Finally, Weiss Ratings downgraded Duos Technologies Group from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $19.17.

Duos Technologies Group Trading Up 2.9%

DUOT stock opened at $5.76 on Friday. The stock has a market cap of $168.88 million, a PE ratio of 5.82 and a beta of 1.35. Duos Technologies Group has a 12 month low of $5.18 and a 12 month high of $15.28. The company has a 50-day moving average price of $8.88 and a 200 day moving average price of $9.40.

Insiders Place Their Bets

In related news, Director James Nixon purchased 5,764 shares of Duos Technologies Group stock in a transaction that occurred on Friday, September 18th. The shares were bought at an average price of $8.55 per share, with a total value of $49,282.20. Following the purchase, the director directly owned 84,523 shares of the company’s stock, valued at approximately $722,671.65. This represents a 7.32% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank Recker acquired 9,250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were bought at an average price of $9.14 per share, with a total value of $84,545.00. Following the acquisition, the chief executive officer directly owned 9,250 shares in the company, valued at $84,545. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Duos Technologies Group

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Duos Technologies Group during the second quarter worth approximately $19,892,000. Regal Partners Ltd bought a new stake in shares of Duos Technologies Group during the first quarter valued at approximately $3,016,000. Royal Bank of Canada raised its stake in shares of Duos Technologies Group by 37.8% during the first quarter. Royal Bank of Canada now owns 1,330,691 shares of the company’s stock valued at $9,129,000 after acquiring an additional 365,324 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Duos Technologies Group by 152.3% in the first quarter. Private Advisor Group LLC now owns 426,181 shares of the company’s stock valued at $2,924,000 after purchasing an additional 257,242 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Duos Technologies Group by 197.1% in the first quarter. Renaissance Technologies LLC now owns 264,415 shares of the company’s stock valued at $1,814,000 after purchasing an additional 175,415 shares during the period. 42.61% of the stock is currently owned by institutional investors.

Duos Technologies Group Company Profile

Duos Technologies Group, Inc develops technology that combines artificial intelligence, machine learning, computer vision and data analytics to automate the inspection and monitoring of rail and other transportation infrastructure. The company serves commercial and government customers seeking to improve safety, security and operational efficiency through automated systems.

Its core offerings include the Railcar Inspection Portal, an automated, wayside inspection system designed to capture high-resolution images and other data as trains pass through a portal.