Arlo Technologies, Inc. (NYSE:ARLO) Short Interest Update

Arlo Technologies, Inc. (NYSE:ARLO) saw a significant drop in short interest in 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 volume of 851,500 shares, the days-to-cover ratio is currently 6.8 days.

Arlo Technologies Price Performance

Shares of NYSE:ARLO opened at $11.84 on Friday. Arlo Technologies has a 52 week low of $7.77 and a 52 week high of $17.64. The company has a 50-day moving average price of $11.68 and a 200 day moving average price of $12.70. The company has a market cap of $1.16 billion, a P/E ratio of -65.78 and a beta of 1.76. The company has a quick ratio of 1.23, a current ratio of 1.48 and a debt-to-equity ratio of 0.16.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. The business had revenue of $127.45 million during the quarter, compared to the consensus estimate of $125.03 million. During the same quarter last year, the firm posted ($0.08) EPS. The business’s revenue was up 10.8% compared to the same quarter last year. Research analysts predict that Arlo Technologies will post -0.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ralph E. Faison bought 8,842 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $11.89 per share, for a total transaction of $105,131.38. Following the acquisition, the director now owns 385,599 shares in the company, valued at approximately $4,584,772.11. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ralph E. Faison purchased 8,842 shares of Arlo Technologies stock in a transaction that occurred on Monday, August 12th. The stock was acquired 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. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Arlo Technologies

A number of institutional investors have recently bought and sold shares of the company. Chilton Capital Management LLC acquired a new stake in Arlo Technologies in the 2nd quarter valued at about $33,000. GAMMA Investing LLC increased its position in 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 buying an additional 840 shares in the last quarter. CWM LLC lifted its holdings in 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 purchasing an additional 1,778 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Arlo Technologies during the second quarter valued at approximately $62,000. Finally, Hennessy Advisors Inc. acquired a new stake in Arlo Technologies during the second quarter worth approximately $138,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARLO has been the subject of several recent research reports. Roth Mkm increased their target price on shares of Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. BWS Financial reaffirmed a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a report on Friday, September 27th.

About Arlo Technologies

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.