CalAmp Corp. (NASDAQ:CAMP – Get Rating) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totalling 2,090,000 shares, a growth of 22.9% from the April 15th total of 1,700,000 shares. Currently, 6.0% of the company’s stock are sold short. Based on an average daily trading volume, of 257,000 shares, the short-interest ratio is presently 8.1 days.
A number of equities analysts have issued reports on CAMP shares. Jefferies Financial Group cut their price target on CalAmp from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, March 25th. StockNews.com assumed coverage on shares of CalAmp in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research upgraded shares of CalAmp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, CalAmp has an average rating of “Buy” and a consensus price target of $13.88.
Hedge funds and other institutional investors have recently modified their holdings of the company. Worth Venture Partners LLC bought a new stake in CalAmp in the 1st quarter valued at about $3,221,000. Penn Capital Management Company LLC purchased a new position in shares of CalAmp in the first quarter worth about $1,736,000. Goldman Sachs Group Inc. raised its position in shares of CalAmp by 262.9% in the first quarter. Goldman Sachs Group Inc. now owns 572,287 shares of the Wireless communications provider’s stock valued at $4,184,000 after purchasing an additional 414,589 shares during the period. B. Riley Asset Management LLC lifted its stake in shares of CalAmp by 14.9% during the 1st quarter. B. Riley Asset Management LLC now owns 87,500 shares of the Wireless communications provider’s stock valued at $640,000 after buying an additional 11,326 shares in the last quarter. Finally, State Street Corp boosted its holdings in CalAmp by 2.7% in the 1st quarter. State Street Corp now owns 1,670,459 shares of the Wireless communications provider’s stock worth $12,211,000 after buying an additional 43,430 shares during the period. 77.03% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ CAMP opened at $5.69 on Wednesday. The company has a market capitalization of $205.17 million, a PE ratio of -7.11 and a beta of 2.30. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.80 and a current ratio of 2.01. CalAmp has a 52-week low of $4.70 and a 52-week high of $14.51. The company has a 50-day simple moving average of $6.30 and a 200 day simple moving average of $7.34.
CalAmp (NASDAQ:CAMP – Get Rating) last released its earnings results on Thursday, April 28th. The Wireless communications provider reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.13. CalAmp had a negative net margin of 9.46% and a negative return on equity of 8.27%. The firm had revenue of $68.38 million during the quarter, compared to the consensus estimate of $68.44 million. During the same period in the prior year, the firm earned $0.08 EPS. The company’s revenue was down 16.6% compared to the same quarter last year. As a group, analysts forecast that CalAmp will post -0.21 EPS for the current fiscal year.
CalAmp Company Profile (Get Rating)
CalAmp Corp., a connected intelligence company, provides leverages a data-driven solutions ecosystem to people and organizations in the United States, Europe, the Middle East, Africa, Latin America, the Asia-Pacific, and internationally. The company operates in two segments, Software & Subscription Services and Telematics Products.