CalAmp Corp. (NASDAQ:CAMP – Get Rating) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 1,280,000 shares, a decrease of 7.2% from the December 31st total of 1,380,000 shares. Based on an average trading volume of 256,100 shares, the days-to-cover ratio is currently 5.0 days. Currently, 3.6% of the company's shares are sold short.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. StockNews.com raised CalAmp from a "sell" rating to a "hold" rating in a research report on Thursday, December 22nd. The Goldman Sachs Group dropped their price target on CalAmp from $4.30 to $3.70 and set a "sell" rating on the stock in a research report on Friday, October 14th.
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Insider Buying and Selling at CalAmp
In other CalAmp news, Director Wes Cummins acquired 25,000 shares of the business's stock in a transaction on Friday, December 23rd. The shares were bought at an average price of $4.17 per share, with a total value of $104,250.00. Following the transaction, the director now directly owns 3,259,059 shares of the company's stock, valued at approximately $13,590,276.03. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired 148,500 shares of company stock valued at $545,890 in the last quarter. 6.60% of the stock is owned by insiders.
Institutional Investors Weigh In On CalAmp
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Paradigm Capital Management Inc. NY purchased a new stake in CalAmp in the second quarter valued at about $1,831,000. Laurion Capital Management LP purchased a new position in shares of CalAmp in the second quarter worth about $44,000. B. Riley Asset Management LLC raised its stake in shares of CalAmp by 1,823.2% in the second quarter. B. Riley Asset Management LLC now owns 1,682,778 shares of the Wireless communications provider's stock worth $7,017,000 after purchasing an additional 1,595,278 shares during the last quarter. TriaGen Wealth Management LLC raised its stake in shares of CalAmp by 5.2% in the third quarter. TriaGen Wealth Management LLC now owns 101,500 shares of the Wireless communications provider's stock worth $390,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Sageworth Trust Co purchased a new position in shares of CalAmp in the second quarter worth about $84,000. 75.52% of the stock is currently owned by hedge funds and other institutional investors.
CalAmp Price Performance
Shares of NASDAQ CAMP opened at $4.49 on Tuesday. The company has a debt-to-equity ratio of 12.15, a quick ratio of 1.47 and a current ratio of 1.68. CalAmp has a 1-year low of $2.96 and a 1-year high of $7.62. The business has a fifty day moving average price of $4.14 and a 200 day moving average price of $4.38.
CalAmp (NASDAQ:CAMP – Get Rating) last issued its quarterly earnings data on Tuesday, December 20th. The Wireless communications provider reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. CalAmp had a negative return on equity of 40.90% and a negative net margin of 11.79%. The firm had revenue of $78.89 million during the quarter, compared to analysts' expectations of $74.65 million. Research analysts anticipate that CalAmp will post -0.39 earnings per share for the current fiscal year.
CalAmp Company Profile
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CalAmp Corp. engages in delivering of wireless access and computer technologies. It provides Internet of Things (IoT) enablement solutions for a broad array of mobile and fixed applications serving multiple vertical markets worldwide. It offers solutions for mobile resource management and applications for the broader IoT market, enabling customers to optimize their operations by collecting, monitoring and efficiently reporting business-critical data and desired intelligence from high-value remote and often mobile assets.
Further Reading
- Get a free copy of the StockNews.com research report on CalAmp (CAMP)
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