Sunday, June 26, 2022

An Analysis of Arlo Technologies Inc. (ARLO)’s Potential Price Growth

In a filing, Arlo Technologies Inc. revealed its Director Summers Grady acquired Company’s shares for reported $7891.0 on May 16. In the deal valued at $6.67 per share,1,183 shares were bought. As a result of this transaction, Summers Grady now holds 161,199 shares worth roughly $ 1.02 million.

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Then, FAISON RALPH E bought 15,200 shares, generating $101,088 in total proceeds. Upon buying the shares at $6.65, the Director now owns 292,170 shares.

Before that, Summers Grady bought 916 shares. Arlo Technologies Inc. shares valued at $8,143 were divested by the Director at a price of $8.89 per share. As a result of the transaction, Summers Grady now holds 160,016 shares, worth roughly $1.01 million.

Taking this into account, Lake Street initiated its Arlo Technologies Inc. [ARLO] rating to a Buy in a research note published on Tuesday, January 25, 2022; the price target was $14. PT values the company’s stock at a premium of 55.0 to its Tuesday closing price. A number of analysts have revised their coverage, including Raymond James’s analysts, who increased its forecast for the stock in late July from “a Mkt perform” to “an Outperform”. Deutsche Bank started covering the stock on November 12, 2019. It rated ARLO as “a Buy”.

Price Performance Review of ARLO

On Tuesday, Arlo Technologies Inc. [NYSE:ARLO] saw its stock jump 2.61% to $6.30. On the same session, the stock had its day’s lowest price of $6.21, but rose to a high of $6.43. Over the last five days, the stock has lost -1.41%. Arlo Technologies Inc. shares have fallen nearly -39.94% since the year began. Nevertheless, the stocks have fallen -9.61% over the past one year. While a 52-week high of $11.79 was reached on 03/03/22, a 52-week low of $5.50 was recorded on 06/16/22. SMA at 50 days reached $7.30, while 200 days put it at $7.99. A total of 0.65 million shares were traded, compared to the trading of 0.83 million shares in the previous session.

Levels Of Support And Resistance For ARLO Stock

The 24-hour chart illustrates a support level at 6.20, which if violated will result in even more drops to 6.09. On the upside, there is a resistance level at 6.42. A further resistance level may holdings at 6.53. The Relative Strength Index (RSI) on the 14-day chart is 38.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.68, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.61%. Stochastics %K at 19.86% indicates the stock is a buying.

How much short interest is there in Arlo Technologies Inc.?

A steep rise in short interest was recorded in Arlo Technologies Inc. stocks on Apr 28, 2022, dropping by 70000.0 shares to a total of 3.58 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 3.65 million shares. There was a decline of -1.96%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.99% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.14.

Arlo Technologies Inc. [ARLO] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 12,139,449 shares, or roughly 13.98% of the outstanding ARLO shares. In other words, the investor’s shares have risen by 157,366 from its previous 13-F filing of 11982083.0. Additionally, The Vanguard Group, Inc. increased 2.21% of its stake after which the total value it holdings stand at $42,317,507, while PRIMECAP Management Co. reduced -0.97% of its stake to hold $37.01 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 111,798 shares of Arlo Technologies Inc., while Cannell Capital LLC bought 278,755 shares. At present, Fidelity Management & Research Co is holding 2,377,156 shares valued at $16.83 million. Dimensional Fund Advisors LP owned 1,923,371 shares of the company at the time of its most recent 13F filing, worth $13.62 million.

According to FactSet, Arlo Technologies Inc.’s share price will average $13.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 128.01 percent from its previous closing price of $6.14. Analysts expect Arlo Technologies Inc. stock to reach the higher price of $15.00, while the lowest price estimate is $9.00. However, 5 analysts have rated ARLO stock as an Overweight in their predictions for 2022. The most recent change occurred on August 07, 2019 when BofA/Merrill resumed its ‘”an Underperform”‘ rating for the stock and retained the price target to $3.50.

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