Numerex Corp. (NMRX) Price Target Cut to $5.00

Numerex Corp. (NASDAQ:NMRX) had its price target dropped by equities researchers at Canaccord Genuity from $7.00 to $5.00 in a report released on Friday. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity’s target price would indicate a potential upside of 8.93% from the stock’s previous close.

NMRX has been the topic of a number of other reports. First Analysis upgraded shares of Numerex Corp. from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $5.50 to $5.00 in a research report on Friday. Zacks Investment Research upgraded shares of Numerex Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, January 11th. Finally, B. Riley reiterated a “buy” rating and set a $7.50 price target on shares of Numerex Corp. in a research report on Wednesday, March 15th.

Numerex Corp. (NASDAQ:NMRX) opened at 4.59 on Friday. The company’s 50 day moving average is $5.36 and its 200-day moving average is $7.03. The firm’s market cap is $89.89 million. Numerex Corp. has a 52-week low of $4.30 and a 52-week high of $9.01.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its position in shares of Numerex Corp. by 24.5% in the fourth quarter. State Street Corp now owns 161,844 shares of the company’s stock worth $1,198,000 after buying an additional 31,845 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its position in shares of Numerex Corp. by 13.1% in the third quarter. Punch & Associates Investment Management Inc. now owns 192,000 shares of the company’s stock worth $1,494,000 after buying an additional 22,200 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Numerex Corp. by 1.8% in the fourth quarter. Renaissance Technologies LLC now owns 259,800 shares of the company’s stock worth $1,923,000 after buying an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 18.01% of the company’s stock.

Numerex Corp. Company Profile

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.

5 Day Chart for NASDAQ:NMRX

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