Arlo Technologies Inc. [NYSE: ARLO] loss -29.91% or -1.4 points to close at $3.28 with a heavy trading volume of 3827823 shares. The company report on November 8, 2022 that Arlo Reports Third Quarter 2022 Results.
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Revenue of $128 million, growing 15% year over year.
Q3 ARR ended at $125 million, growing 56% year over year.
It opened the trading session at $4.30, the shares rose to $4.38 and dropped to $2.93, the range by which the price of stock traded the whole day. The daily chart for ARLO points out that the company has recorded -50.53% loss over the past six months. However, it is still 23.36% higher than its most recent low trading price.
If we look at the average trading volume of 586.21K shares, ARLO reached to a volume of 3827823 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Arlo Technologies Inc. [ARLO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ARLO shares is $13.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ARLO stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Lake Street have made an estimate for Arlo Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 25, 2022. The new note on the price target was released on July 29, 2020, representing the official price target for Arlo Technologies Inc. stock. Previously, the target price had yet another raise to $4, while Deutsche Bank analysts kept a Buy rating on ARLO stock.
The Average True Range (ATR) for Arlo Technologies Inc. is set at 0.37, with the Price to Sales ratio for ARLO stock in the period of the last 12 months amounting to 0.58. The Price to Book ratio for the last quarter was 2.78, with the Price to Cash per share for the same quarter was set at 1.54.
Trading performance analysis for ARLO stock
Arlo Technologies Inc. [ARLO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -33.47. With this latest performance, ARLO shares dropped by -25.96% in over the last four-week period, additionally sinking by -50.53% over the last 6 months – not to mention a drop of -53.21% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ARLO stock in for the last two-week period is set at 21.37, with the RSI for the last a single of trading hit 14.81, and the three-weeks RSI is set at 25.71 for Arlo Technologies Inc. [ARLO]. The present Moving Average for the last 50 days of trading for this stock 4.98, while it was recorded at 4.40 for the last single week of trading, and 7.03 for the last 200 days.
Arlo Technologies Inc. [ARLO]: A deeper dive into fundamental analysis
Arlo Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.50.
An analysis of insider ownership at Arlo Technologies Inc. [ARLO]
There are presently around $216 million, or 74.00% of ARLO stock, in the hands of institutional investors. The top three institutional holders of ARLO stocks are: BLACKROCK INC. with ownership of 13,127,198, which is approximately 3.147% of the company’s market cap and around 5.00% of the total institutional ownership; VANGUARD GROUP INC, holding 6,225,543 shares of the stock with an approximate value of $20.42 million in ARLO stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $16.59 million in ARLO stock with ownership of nearly -3.228% of the company’s market capitalization.
Positions in Arlo Technologies Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 89 institutional holders increased their position in Arlo Technologies Inc. [NYSE:ARLO] by around 4,669,425 shares. Additionally, 85 investors decreased positions by around 4,390,533 shares, while 30 investors held positions by with 56,703,033 shares. The mentioned changes placed institutional holdings at 65,762,991 shares, according to the latest SEC report filing. ARLO stock had 24 new institutional investments in for a total of 551,338 shares, while 22 institutional investors sold positions of 1,393,451 shares during the same period.