Magnet Forensics (OTC:MAGTF) Shares Up 9%

Magnet Forensics Inc. (OTC:MAGTFGet Rating) shot up 9% during trading on Friday . The company traded as high as $33.02 and last traded at $32.27. 3,202 shares changed hands during mid-day trading, an increase of 167% from the average session volume of 1,201 shares. The stock had previously closed at $29.60.

Analysts Set New Price Targets

A number of brokerages recently commented on MAGTF. Royal Bank of Canada raised their price target on Magnet Forensics from C$35.00 to C$38.00 in a research report on Thursday, November 10th. Stifel Nicolaus raised their price objective on Magnet Forensics from C$40.00 to C$44.00 in a research note on Thursday, November 10th. Canaccord Genuity Group raised their price objective on Magnet Forensics from C$40.00 to C$42.00 in a research note on Thursday, November 10th. Finally, BMO Capital Markets raised their price objective on Magnet Forensics from C$32.00 to C$34.00 in a research note on Thursday, November 10th.

Magnet Forensics Stock Performance

The stock has a 50 day moving average price of $28.64 and a 200 day moving average price of $21.12.

About Magnet Forensics

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Magnet Forensics Inc, together with its subsidiaries, engages in the development of data analytics software used for digital forensics investigations to public sector and private enterprises in Canada, the United States, Australia, and Europe. It offers Magnet AXIOM, a digital investigations platform to recover analyze, and report on digital evidence from smartphones, cloud services, IoT devices, and third-party images; Magnet AXIOM CYBER, a digital forensics and incident response solution for businesses that need to perform remote acquisitions, and collect and analyze evidence from computers, cloud, and mobile devices; and Magnet OUTRIDER, a digital evidence triage tool used at crime scenes to scan digital media for the presence of CSAM.

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