Numerex Corp. (NMRX) Sees Strong Trading Volume
Numerex Corp. (NASDAQ:NMRX) saw unusually-strong trading volume on Wednesday . Approximately 95,695 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 104,790 shares.The stock last traded at $7.74 and had previously closed at $7.69.
Several brokerages recently weighed in on NMRX. B. Riley began coverage on shares of Numerex Corp. in a report on Thursday, April 14th. They issued a “buy” rating and a $9.50 target price for the company. Zacks Investment Research downgraded shares of Numerex Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 19th. Finally, Canaccord Genuity downgraded shares of Numerex Corp. from a “buy” rating to a “hold” rating and dropped their target price for the stock from $8.00 to $7.00 in a report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $8.25.
The company’s market capitalization is $151.82 million. The company’s 50-day moving average is $7.59 and its 200-day moving average is $6.77.
Numerex Corp. (NASDAQ:NMRX) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. On average, analysts forecast that Numerex Corp. will post ($0.32) earnings per share for the current fiscal year.
Numerex Corp. is a provider of on-demand and interactive machine-to-machine enterprise solutions, referred to as M2M. The Company’s integrated M2M horizontal platforms incorporate the key M2M elements of Device (D), Network (N) and Application (A), and are offered on a subscription basis through a service bureau.
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