CalAmp Corp. (CAMP) Sees Unusually-High Trading Volume
Shares of CalAmp Corp. (NASDAQ:CAMP) saw strong trading volume on Friday . 134,130 shares changed hands during trading, a decline of 55% from the previous session’s volume of 295,041 shares.The stock last traded at $19.05 and had previously closed at $19.38.
A number of research firms have issued reports on CAMP. B. Riley reaffirmed a “buy” rating and issued a $28.00 price objective on shares of CalAmp Corp. in a research note on Saturday, July 1st. Craig Hallum lifted their price objective on CalAmp Corp. from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, June 28th. BidaskClub downgraded CalAmp Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. J P Morgan Chase & Co began coverage on CalAmp Corp. in a research note on Monday, August 28th. They issued a “neutral” rating and a $20.00 price objective on the stock. Finally, Northland Securities reaffirmed a “buy” rating and issued a $22.00 price objective on shares of CalAmp Corp. in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $21.00.
The stock’s market cap is $668.63 million. The stock has a 50 day moving average price of $18.71 and a 200-day moving average price of $18.20.
CalAmp Corp. (NASDAQ:CAMP) last announced its earnings results on Tuesday, June 27th. The Wireless communications provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. CalAmp Corp. had a positive return on equity of 18.84% and a negative net margin of 2.05%. The business had revenue of $88.10 million during the quarter, compared to analysts’ expectations of $86.85 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The business’s revenue was down 3.3% compared to the same quarter last year. On average, analysts expect that CalAmp Corp. will post $1.17 earnings per share for the current year.
In other CalAmp Corp. news, CEO Michael J. Burdiek sold 10,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the transaction, the chief executive officer now owns 479,093 shares of the company’s stock, valued at $9,581,860. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.30% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of CalAmp Corp. in the second quarter valued at approximately $1,276,000. Nomura Holdings Inc. increased its holdings in shares of CalAmp Corp. by 11.8% in the second quarter. Nomura Holdings Inc. now owns 326,846 shares of the Wireless communications provider’s stock valued at $6,611,000 after purchasing an additional 34,422 shares during the last quarter. State Street Corp increased its holdings in shares of CalAmp Corp. by 4.4% in the second quarter. State Street Corp now owns 891,016 shares of the Wireless communications provider’s stock valued at $18,114,000 after purchasing an additional 37,172 shares during the last quarter. Precept Management LLC acquired a new stake in shares of CalAmp Corp. in the second quarter valued at approximately $1,260,000. Finally, Voya Investment Management LLC increased its holdings in shares of CalAmp Corp. by 2.8% in the second quarter. Voya Investment Management LLC now owns 878,417 shares of the Wireless communications provider’s stock valued at $17,858,000 after purchasing an additional 23,819 shares during the last quarter. 72.88% of the stock is owned by hedge funds and other institutional investors.
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CalAmp Corp. Company Profile
CalAmp Corp. (CalAmp) is a provider of wireless communications solutions for a range of applications to customers globally. The Company operates through two business segments: Wireless DataCom and Satellite. The Company’s Wireless DataCom segment offers solutions for mobile resource management (MRM) applications, the machine-to-machine (M2M) communications space and other markets that require connectivity anytime and anywhere.