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

Arlo Technologies, Inc. (NYSE:ARLO – Get Rating) saw a significant increase in short interest in the month of December. As of December 30th, there was short interest totalling 2,420,000 shares, an increase of 18.6% from the December 15th total of 2,040,000 shares. Based on an average daily volume of 693,300 shares, the short-interest ratio is currently 3.5 days.

Arlo Technologies Stock Performance

Shares of ARLO stock opened at $3.87 on Friday. Arlo Technologies has a one year low of $2.93 and a one year high of $11.79. The company’s 50-day moving average is $3.68 and its 200 day moving average is $5.03. The company has a market capitalization of $342.39 million, a price-to-earnings ratio of -8.23 and a beta of 1.56.

Arlo Technologies (NYSE:ARLO – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.08. Arlo Technologies had a negative net margin of 8.02% and a negative return on equity of 38.49%. The company had revenue of $128.16 million for the quarter, compared to the consensus estimate of $127.48 million. As a group, research analysts predict that Arlo Technologies will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arlo Technologies news, Director Grady Summers bought 30,000 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were purchased at an average price of $3.80 per share, for a total transaction of $114,000.00. Following the acquisition, the director now owns 219,729 shares in the company, valued at approximately $834,970.20. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Arlo Technologies news, Director Grady Summers bought 30,000 shares of the stock in a transaction dated Friday, November 11th. The stock was purchased at an average cost of $3.80 per share, for a total transaction of $114,000.00. Following the completion of the acquisition, the director now owns 219,729 shares of the company’s stock, valued at $834,970.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew Blake Mcrae purchased 20,400 shares of the company’s stock in a transaction dated Wednesday, November 9th. The stock was bought at an average cost of $2.97 per share, for a total transaction of $60,588.00. Following the completion of the transaction, the chief executive officer now owns 1,724,039 shares in the company, valued at $5,120,395.83. The disclosure for this purchase can be found here. Insiders have bought a total of 54,246 shares of company stock valued at $190,203 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Arlo Technologies

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Arlo Technologies by 1.0% during the 3rd quarter. BlackRock Inc. now owns 13,264,232 shares of the company’s stock valued at $61,546,000 after acquiring an additional 137,034 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Arlo Technologies by 13.9% during the 3rd quarter. Vanguard Group Inc. now owns 7,090,278 shares of the company’s stock valued at $32,898,000 after acquiring an additional 864,735 shares during the last quarter. State Street Corp boosted its holdings in shares of Arlo Technologies by 1.6% during the 3rd quarter. State Street Corp now owns 2,907,783 shares of the company’s stock valued at $13,492,000 after acquiring an additional 46,933 shares during the last quarter. Cannell Capital LLC boosted its holdings in shares of Arlo Technologies by 11.3% during the 1st quarter. Cannell Capital LLC now owns 2,748,903 shares of the company’s stock valued at $24,355,000 after acquiring an additional 278,755 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of Arlo Technologies by 26.3% during the 3rd quarter. Rice Hall James & Associates LLC now owns 2,274,316 shares of the company’s stock valued at $10,553,000 after acquiring an additional 474,105 shares during the last quarter. Hedge funds and other institutional investors own 72.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ARLO. BWS Financial lowered their price target on Arlo Technologies from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, November 9th. Raymond James cut their price objective on shares of Arlo Technologies from $14.00 to $11.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th.

About Arlo Technologies

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Arlo Technologies, Inc engages in the provision and development of cloud infrastructure and mobile app for smart connected devices. It offers wire-free smart Wi-Fi and LTE-enabled cameras, advanced baby monitors, smart security lights, and audio doorbell. The company was founded in January 2018 and is headquartered in Carlsbad, CA.