B. Riley Asset Management LLC has recently announced that it has increased stake in CalAmp Corp. (NASDAQ:CAMP) by 25.11%. After grabbing 3.4 million shares, the institutional investor is now in possession of 0.68 million shares of the Technology Company. The new investment brought the stake of investor firm to 9.20% having worth around $15.23 million. Moreover, Millennium Management LLC increased its share by 1.04 million to have a control over 1.35 million shares. And Paradigm Capital Management, Inc. raised its holdings to 0.46 million shares by acquiring 0.9 million shares or 2.43% of the stake.
CalAmp Corp. (CAMP) concluded trading on 01/18/23 at a closing price of $5.10, with 0.33 million shares of worth about $1.67 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 17.78% during that period and on Wednesday the price saw a loss of about -0.58%. Currently the company’s common shares owned by public are about 36.36M shares, out of which, 35.06M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the CAMP stock and their offered price forecasts bring an average price target of $8.04. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $10.00 and could fall to a lowest price of $3.70. The stock’s current price level is 36.57% above of average price target set by the analysts, while a rise to estimated low would result in loss of -37.84% for the stock. However, touching the estimated high of $10.00 would mean a gain of 49.0% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 103 times over the past 12 months. They bought 2,620,505 shares in 65 of the transactions. In 38 selling transactions, insiders dumped 146,295 shares.
Vanguard Total Stock Market Index, Royce Small-Cap Opportunity Fund, and SPDR S&P Kensho New Economies Com are the top 3 mutual funds which are holding stakes in CalAmp Corp. Vanguard Total Stock Market Index is currently holding 1.08 million shares of worth totaling $4.85 million. The company recently came buying 0.0 shares which brought its stake up to 2.93% of the company’s outstanding shares. Royce Small-Cap Opportunity Fund sold 25600.0 shares, after which its hold over company’s outstanding shares shrunk to 2.67%, leaving 0.99 million shares with the mutual fund that have a worth of about $4.42 million. SPDR S&P Kensho New Economies Com, after selling 0.6 million shares, have now control over 1.63% of the stake in the company. It holds 780.0 shares of worth $2.71 million.
CalAmp Corp. (NASDAQ: CAMP) started trading at $5.14, above $0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 5.35, or with a loss of -0.58%. Stock saw a price change of 4.94% in past 5 days and over the past one month there was a price change of 33.86%. Year-to-date (YTD), CAMP shares are showing a performance of 13.84% which decreased to -17.48% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.96 but also hit the highest price of $7.62 during that period. The average intraday trading volume for CalAmp Corp. shares is 262.38K. The stock is currently trading 16.36% above its 20-day simple moving average (SMA20), while that difference is up 31.35% for SMA50 and it goes to 4.28% higher than SMA200.
B. Riley Asset Management LLC acquired 3.4 million shares of CalAmp Corp. having value of about $15.23 million. Data submitted at the U.S SEC by B. Riley Asset Management LLC revealed that the firm now holds 0.68 million shares in the company valued at close to $3478710.0, or have control over 25.11% stake in the company. CalAmp Corp. (NASDAQ: CAMP) currently have 36.36M outstanding shares and institutions hold larger chunk of about 76.80% of that. Holding of mutual funds in the company is about 23.31% while other institutional holders and individual stake holders have control over 55.86% and 20.84% of the stake respectively.
The stock has a current market capitalization of $184.77M and its 3Y-monthly beta is at 2.04. It has posted earnings per share of -$0.94 in the same period. It has Quick Ratio of 1.50 while making debt-to-equity ratio of 12.21. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CAMP, volatility over the week remained 5.05% while standing at 7.22% over the month.
Analysts are in expectations that CalAmp Corp. (CAMP) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0.03 and it is $0.25 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.04 which is $0.03 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.08 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -43.60% while it is estimated to increase by 380.00% in next year. EPS is likely to grow at an annualized rate of 12.00% for next 5-years, compared to annual growth of -32.00% made by the stock over the past 5-years.
Analysts at 5 brokerage firms have issued recommendations for the CalAmp Corp. (CAMP)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.20. Out of those 5 Wall Street analysts, 4 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Craig Hallum on August 16, 2022 offering a Buy rating for the stock and assigned a target price range of between $8 and $10 to it. Coverage by Craig Hallum stated CalAmp Corp. (CAMP) stock as a Hold in their note to investors on December 22, 2021, suggesting a price target of $10 for the stock. On September 24, 2021, Craig Hallum Reiterated their recommendations, while on June 25, 2021, Craig Hallum Reiterated their ratings for the stock with a price target of $16. Stock get an Underweight rating from JP Morgan on December 18, 2020.