Numerex Corp. (NASDAQ:NMRX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

According to Zacks, “Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company’s solutions produce new revenue streams or create operating efficiencies for its customers. Numerex provides its technology and services through its integrated platforms, which are generally sold on a subscription basis. The Company offers a portfolio of managed end-to-end IoT solutions including smart devices, network connectivity and service applications capable of addressing the needs of a wide spectrum of vertical markets and industrial customers. The Company’s mission is to empower enterprise operations with world-class, managed IoT solutions that are simple, innovative, scalable, and secure. Numerex is ISO 27001 information security-certified, highlighting the Company’s focus on data security, service reliability and around-the-clock support of its customers. “

Separately, B. Riley restated a “buy” rating and set a $9.50 target price on shares of Numerex Corp. in a research note on Tuesday.

Numerex Corp. (NASDAQ:NMRX) opened at 7.72 on Friday. Numerex Corp. has a 1-year low of $5.17 and a 1-year high of $8.37. The stock has a 50 day moving average price of $7.55 and a 200 day moving average price of $7.56. The company’s market cap is $150.50 million.

Numerex Corp. (NASDAQ:NMRX) last announced its earnings results on Monday, November 7th. The company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $0.04. Numerex Corp. had a negative return on equity of 12.94% and a negative net margin of 21.69%. On average, equities research analysts anticipate that Numerex Corp. will post ($0.72) EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. BlackRock Institutional Trust Company N.A. increased its stake in Numerex Corp. by 27.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 410,555 shares of the company’s stock valued at $3,075,000 after buying an additional 87,296 shares during the last quarter. BlackRock Fund Advisors increased its stake in Numerex Corp. by 899.6% in the second quarter. BlackRock Fund Advisors now owns 359,269 shares of the company’s stock valued at $2,691,000 after buying an additional 323,327 shares during the last quarter. Vanguard Group Inc. increased its stake in Numerex Corp. by 8.1% in the second quarter. Vanguard Group Inc. now owns 343,880 shares of the company’s stock valued at $2,576,000 after buying an additional 25,835 shares during the last quarter. Punch & Associates Investment Management Inc. increased its stake in Numerex Corp. by 13.1% in the third quarter. Punch & Associates Investment Management Inc. now owns 192,000 shares of the company’s stock valued at $1,494,000 after buying an additional 22,200 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Numerex Corp. by 3.5% in the third quarter. Northern Trust Corp now owns 177,849 shares of the company’s stock valued at $1,383,000 after buying an additional 6,051 shares during the last quarter. Institutional investors and hedge funds own 17.01% of the company’s stock.

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.

5 Day Chart for NASDAQ:NMRX

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