Numerex Corp. (NMRX) Price Target Cut to $5.00
Numerex Corp. (NASDAQ:NMRX) had its price target decreased by equities researchers at Canaccord Genuity from $7.00 to $5.00 in a report released on Friday. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity’s price target points to a potential upside of 8.93% from the stock’s previous close.
Other research analysts also recently issued research reports about the stock. B. Riley restated a “buy” rating and issued a $7.50 price target on shares of Numerex Corp. in a research report on Wednesday, March 15th. First Analysis upgraded shares of Numerex Corp. from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $5.50 to $5.00 in a research report on Friday. Finally, Zacks Investment Research upgraded shares of Numerex Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, January 11th.
Numerex Corp. (NASDAQ:NMRX) opened at 4.59 on Friday. The company has a 50-day moving average of $5.36 and a 200-day moving average of $7.03. Numerex Corp. has a 52-week low of $4.30 and a 52-week high of $9.01. The company’s market cap is $89.89 million.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of Numerex Corp. by 24.5% in the fourth quarter. State Street Corp now owns 161,844 shares of the company’s stock worth $1,198,000 after buying an additional 31,845 shares during the period. Punch & Associates Investment Management Inc. increased its position 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 worth $1,494,000 after buying an additional 22,200 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Numerex Corp. by 1.8% in the fourth quarter. Renaissance Technologies LLC now owns 259,800 shares of the company’s stock worth $1,923,000 after buying an additional 4,500 shares during the last quarter. Hedge funds and other institutional investors own 18.01% 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.
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