The stock of Arlo Technologies, Inc. (NYSE:ARLO) is now priced at $5.8 and the shares are -0.04 points down or -0.68% lower compared to its previous closing price of $5.84. The stock had 1.399 million contracts set over the past session. ARLO shares’ daily volume is compared to its average trading volume at 1.765 million shares. However, it has a float of 76.03 million and although its performance was -9.66% over the week, it’s one to watch. Analysts have given the ARLO stock a yearly average price target of $7 per share. It means the stock’s upside potential is 20.69% with the ARLO share price recently placing at $5.77 to $6.34. However, some brokerage firms have priced the stock below the average, including one that has called $6.
The shorts are running away from the Arlo Technologies, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the ARLO shares have declined. Short interest in the stock represents just 5.85% of its float, but the volume has dropped by 0.
In the last trading session, Arlo Technologies, Inc. (NYSE:ARLO) dropped by -$0.62 over the week and gained $1.58 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.3. The stock recorded its established 52-week high on 08/24/20.
Since 03/16/20, the stock has traded to a low of $1.2 at 383.33%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Arlo Technologies, Inc.’s two-week RSI is 56.41. This suggests that the stock is neutral at the moment and that ARLO shares’ price movement remains stable. The stochastic readings are equally revealing at 38.68% meaning the ARLO share price is currently in neutral territory.
The technical chart shows that the ARLO stock will likely settle at between $6.17 and $6.54 per share. However, if the stock dips below $5.6, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.4.
Currently, the stock is trading in the red of MACD, with a reading of -0.05. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Raymond James raised their recommendation for ARLO from Mkt Perform to Outperform in July 29 review while maintain their target price of $6. Deutsche Bank analysts see the stock as a Buy with a target price of $4 in a flash note released to investors on November 12 resuming covering the stock. Deutsche Bank analysts see the stock as Buy when the analysts initiated the share price coverage on November 12, placing it at $4.
The average rating for the ARLO equity is 2.8 and is currently gathering a bullish momentum. Of 4 analysts tracking Arlo Technologies, Inc. polled by Reuters, 1 rated ARLO as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Arlo Technologies, Inc. (NYSE:ARLO) will decrease by about -99.86%, which will see them reach $90.48 million. The company’s full-year revenues are, however, expected to diminish by about -10.96%, down from $370 million to $329 million. ARLO’s expected adjusted earnings should drop almost -21.88% to end up at -$0.25 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -22.54% to record -$1.1/share.