Numerex Corp. (NASDAQ:NMRX) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 342,092 shares, a decline of 51.5% from the June 15th total of 705,623 shares. Based on an average trading volume of 171,005 shares, the days-to-cover ratio is presently 2.0 days. Currently, 3.0% of the shares of the stock are short sold.
A number of analysts have issued reports on the company. B. Riley reaffirmed a “buy” rating and issued a $7.50 price objective on shares of Numerex Corp. in a research note on Monday, May 8th. Zacks Investment Research downgraded Numerex Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, May 13th.
Numerex Corp. (NMRX) opened at 4.23 on Thursday. The company’s market cap is $82.65 million. The stock’s 50 day moving average price is $4.63 and its 200 day moving average price is $5.00. Numerex Corp. has a 52-week low of $3.86 and a 52-week high of $9.01.
Numerex Corp. (NASDAQ:NMRX) last released its earnings results on Tuesday, May 9th. The communications equipment provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.11) by $0.09. The firm had revenue of $16.39 million during the quarter, compared to analysts’ expectations of $16.20 million. Numerex Corp. had a negative net margin of 37.72% and a negative return on equity of 21.38%. Analysts expect that Numerex Corp. will post ($0.38) earnings per share for the current year.
Several large investors have recently bought and sold shares of NMRX. Renaissance Technologies LLC boosted its stake in Numerex Corp. by 1.8% in the fourth quarter. Renaissance Technologies LLC now owns 259,800 shares of the communications equipment provider’s stock valued at $1,923,000 after buying an additional 4,500 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its stake in Numerex Corp. by 17.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 324,245 shares of the communications equipment provider’s stock valued at $1,547,000 after buying an additional 47,400 shares in the last quarter. Finally, Princeton Portfolio Strategies Group LLC bought a new stake in Numerex Corp. during the first quarter valued at approximately $144,000. 28.38% of the stock is owned by hedge funds and other institutional investors.
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About Numerex Corp.
Numerex Corp. is a holding company. The Company, through its subsidiaries, provides managed enterprise solutions, which enable the Internet of Things (IoT). The Company offers solutions to incorporate the IoT building blocks, such as device, network, application and platform. Its technology encompasses a range of the IoT ecosystem and delivers solutions for enterprise users.
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