Numerex Corp. (NASDAQ:NMRX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.
According to Zacks, “Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company’s solutions produce new revenue streams or create operating efficiencies for its customers. Numerex provides its technology and services through its integrated platforms, which are generally sold on a subscription basis. The Company offers a portfolio of managed end-to-end IoT solutions including smart devices, network connectivity and service applications capable of addressing the needs of a wide spectrum of vertical markets and industrial customers. The Company’s mission is to empower enterprise operations with world-class, managed IoT solutions that are simple, innovative, scalable, and secure. Numerex is ISO 27001 information security-certified, highlighting the Company’s focus on data security, service reliability and around-the-clock support of its customers. “
Separately, B. Riley reiterated a “buy” rating and issued a $9.50 price target on shares of Numerex Corp. in a report on Tuesday.
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Numerex Corp. (NASDAQ:NMRX) traded up 7.25% during mid-day trading on Friday, hitting $8.28. The company’s stock had a trading volume of 80,444 shares. The company’s market cap is $161.42 million. The firm’s 50-day moving average is $7.56 and its 200-day moving average is $7.56. Numerex Corp. has a 12-month low of $5.17 and a 12-month high of $8.37.
Numerex Corp. (NASDAQ:NMRX) last announced its quarterly earnings results on Monday, November 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.04. Numerex Corp. had a negative net margin of 21.69% and a negative return on equity of 13.29%. Analysts predict that Numerex Corp. will post ($0.72) EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. BlackRock Fund Advisors raised its stake in Numerex Corp. by 899.6% in the second quarter. BlackRock Fund Advisors now owns 359,269 shares of the company’s stock worth $2,691,000 after buying an additional 323,327 shares in the last quarter. Punch & Associates Investment Management Inc. bought a new stake in Numerex Corp. during the second quarter worth $1,272,000. State Street Corp bought a new stake in Numerex Corp. during the second quarter worth $830,000. BlackRock Institutional Trust Company N.A. raised its stake in Numerex Corp. by 27.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 410,555 shares of the company’s stock worth $3,075,000 after buying an additional 87,296 shares in the last quarter. Finally, Merriman Wealth Management LLC bought a new stake in Numerex Corp. during the second quarter worth $417,000. Institutional investors own 17.01% of the company’s stock.
About Numerex Corp.
Numerex Corp. is a holding company. The Company, through its subsidiaries, provides managed enterprise solutions, which enable the Internet of Things (IoT). The Company offers solutions to incorporate the IoT building blocks, such as device, network, application and platform. Its technology encompasses a range of the IoT ecosystem and delivers solutions for enterprise users.
