A2Z Cust2Mate Solutions (NASDAQ:AZ) Announces Earnings Results, Misses Estimates By $0.03 EPS

A2Z Cust2Mate Solutions (NASDAQ:AZ) announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.03), Zacks reports. The firm had revenue of $3.32 million during the quarter, compared to the consensus estimate of $3.06 million. A2Z Cust2Mate Solutions had a negative net margin of 415.62% and a negative return on equity of 62.55%.

A2Z Cust2Mate Solutions Stock Performance

Shares of AZ opened at $6.21 on Tuesday. A2Z Cust2Mate Solutions has a 12 month low of $4.97 and a 12 month high of $12.36. The stock has a fifty day moving average price of $6.39 and a 200 day moving average price of $6.54.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AZ. Weiss Ratings reiterated a “sell (d-)” rating on shares of A2Z Cust2Mate Solutions in a research report on Monday, April 20th. Wall Street Zen upgraded A2Z Cust2Mate Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Zacks Research raised shares of A2Z Cust2Mate Solutions to a “hold” rating in a report on Monday, March 30th. Finally, Northland Securities started coverage on shares of A2Z Cust2Mate Solutions in a research note on Friday, March 27th. They set an “outperform” rating and a $15.00 target price for the company. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $15.00.

A2Z Cust2Mate Solutions declared that its board has initiated a share buyback plan on Friday, March 27th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to reacquire up to 7.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On A2Z Cust2Mate Solutions

Several hedge funds and other institutional investors have recently modified their holdings of AZ. Alyeska Investment Group L.P. increased its holdings in shares of A2Z Cust2Mate Solutions by 110.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,000,987 shares of the company’s stock worth $15,988,000 after acquiring an additional 1,050,000 shares during the period. Shay Capital LLC lifted its position in A2Z Cust2Mate Solutions by 133.6% in the 3rd quarter. Shay Capital LLC now owns 1,600,000 shares of the company’s stock valued at $12,784,000 after purchasing an additional 915,000 shares during the last quarter. Private Advisor Group LLC boosted its stake in A2Z Cust2Mate Solutions by 331.3% during the 4th quarter. Private Advisor Group LLC now owns 862,765 shares of the company’s stock valued at $5,617,000 after purchasing an additional 662,718 shares during the period. Jain Global LLC acquired a new position in A2Z Cust2Mate Solutions during the 3rd quarter valued at about $2,617,000. Finally, CIBC Bancorp USA Inc. bought a new position in A2Z Cust2Mate Solutions in the 3rd quarter worth about $2,490,000. Institutional investors and hedge funds own 12.64% of the company’s stock.

About A2Z Cust2Mate Solutions

A2Z Smart Technologies Corp., a technology company, focuses on the development and commercialization of retail smart cart solutions for grocery stores and supermarkets in Israel and internationally. The company operates through three segments: Precision Metal Parts, Advanced Engineering, and Smart Carts. It offers Cust2Mate system, which incorporates a smart cart that automatically calculates the value of the customers purchases in their smart cart without having to unload and reload their purchases at a customer checkout point.