Numerex Corp. (NMRX) Given Hold Rating at Canaccord Genuity
Numerex Corp. (NASDAQ:NMRX)‘s stock had its “hold” rating reiterated by research analysts at Canaccord Genuity in a research report issued on Friday. They presently have a $4.50 target price on the communications equipment provider’s stock. Canaccord Genuity’s target price indicates a potential upside of 14.80% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Numerex Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. ValuEngine downgraded shares of Numerex Corp. from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $5.00.
Shares of Numerex Corp. (NASDAQ:NMRX) opened at $3.92 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.11 and a quick ratio of 0.73.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. LMR Partners LLP acquired a new position in shares of Numerex Corp. in the 2nd quarter valued at about $170,000. Susquehanna International Group LLP acquired a new position in shares of Numerex Corp. in the 2nd quarter valued at about $197,000. Finally, Legal & General Group Plc boosted its holdings in shares of Numerex Corp. by 7,923.3% in the 2nd quarter. Legal & General Group Plc now owns 161,911 shares of the communications equipment provider’s stock valued at $798,000 after buying an additional 159,893 shares during the period. 23.91% of the stock is owned by institutional investors and hedge funds.
Numerex Corp. Company Profile
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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