Short Interest in Arlo Technologies, Inc. (NYSE:ARLO) Drops By 6.1%

by · The Markets Daily

Arlo Technologies, Inc. (NYSE:ARLO – Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 5,800,000 shares, a drop of 6.1% from the September 15th total of 6,180,000 shares. Based on an average daily trading volume, of 851,500 shares, the short-interest ratio is currently 6.8 days.

Arlo Technologies Stock Up 1.5 %

Shares of NYSE ARLO traded up $0.18 during midday trading on Wednesday, reaching $11.86. 614,529 shares of the company’s stock were exchanged, compared to its average volume of 959,830. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.48. Arlo Technologies has a 52-week low of $7.77 and a 52-week high of $17.64. The business’s fifty day moving average price is $11.73 and its two-hundred day moving average price is $12.72. The stock has a market capitalization of $1.16 billion, a PE ratio of -65.11 and a beta of 1.76.

Arlo Technologies (NYSE:ARLO – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The company had revenue of $127.45 million for the quarter, compared to the consensus estimate of $125.03 million. During the same period in the previous year, the business earned ($0.08) EPS. Arlo Technologies’s revenue for the quarter was up 10.8% compared to the same quarter last year. Analysts forecast that Arlo Technologies will post -0.4 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction of $84,750.12. Following the completion of the transaction, the chief financial officer now owns 892,595 shares of the company’s stock, valued at $10,657,584.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Arlo Technologies news, Director Ralph E. Faison bought 8,842 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $11.89 per share, with a total value of $105,131.38. Following the transaction, the director now owns 385,599 shares in the company, valued at $4,584,772.11. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction of $84,750.12. Following the transaction, the chief financial officer now directly owns 892,595 shares in the company, valued at approximately $10,657,584.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arlo Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Chilton Capital Management LLC bought a new stake in shares of Arlo Technologies in the 2nd quarter valued at approximately $33,000. GAMMA Investing LLC raised its holdings in shares of Arlo Technologies by 34.9% during the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after purchasing an additional 840 shares during the period. CWM LLC boosted its holdings in shares of Arlo Technologies by 90.5% in the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after buying an additional 1,778 shares during the period. Meeder Asset Management Inc. acquired a new stake in Arlo Technologies during the second quarter worth about $62,000. Finally, Hennessy Advisors Inc. acquired a new position in Arlo Technologies in the second quarter valued at approximately $138,000. Institutional investors own 83.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on ARLO shares. Roth Mkm increased their price target on Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a report on Monday, July 22nd. BWS Financial restated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday, September 27th.

Read Our Latest Research Report on ARLO

About Arlo Technologies

(Get Free Report)

Arlo Technologies, Inc, together with its subsidiaries, provides a cloud-based platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers Arlo Essential Cameras and Doorbells (2nd Generation) delivers smart home protection, including automated privacy shield, 180-degree field of view, and 2K video resolution; Arlo Home Security System, an all-in-one multi-sensor that provides access to security experts for monitoring and responding to emergency situations; Arlo Pro 5S, a wireless 2K video resolution security camera; Arlo Go 2, a camera for monitoring remote areas, large properties, construction sites, vacation homes, boat or RV slips, and hard-to-access areas; Arlo Ultra 2 provides 4K video with HDR, an ultra-wide, 180-degree field of view, auto zoom and tracking on moving objects, and color night vision; and Arlo Floodlight Camera, a wire-free floodlight camera.

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