A2Z Cust2Mate Solutions (NASDAQ:AZ) Issues Quarterly Earnings Results

A2Z Cust2Mate Solutions (NASDAQ:AZ) announced its quarterly earnings results on Tuesday. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.49, FiscalAI reports. The company had revenue of $3.65 million for the quarter, compared to the consensus estimate of $4.63 million. A2Z Cust2Mate Solutions had a negative return on equity of 86.58% and a negative net margin of 488.70%.

A2Z Cust2Mate Solutions Stock Performance

Shares of NASDAQ:AZ traded down $0.05 during midday trading on Thursday, reaching $7.43. 84,932 shares of the company’s stock traded hands, compared to its average volume of 456,871. The company has a fifty day simple moving average of $6.11 and a two-hundred day simple moving average of $6.59. A2Z Cust2Mate Solutions has a 1 year low of $5.00 and a 1 year high of $12.36. The company has a market cap of $310.95 million, a P/E ratio of -6.63 and a beta of 1.23.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AZ. Northland Securities initiated coverage on A2Z Cust2Mate Solutions in a report on Friday, March 27th. They issued an “outperform” rating and a $15.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of A2Z Cust2Mate Solutions in a research report on Wednesday, January 21st. Zacks Research raised shares of A2Z Cust2Mate Solutions to a “hold” rating in a research note on Monday. Finally, Benchmark reaffirmed a “buy” rating on shares of A2Z Cust2Mate Solutions in a report on Monday, January 5th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.00.

Hedge Funds Weigh In On A2Z Cust2Mate Solutions

A number of large investors have recently added to or reduced their stakes in AZ. Osaic Holdings Inc. acquired a new stake in shares of A2Z Cust2Mate Solutions in the second quarter valued at about $146,000. NewEdge Advisors LLC acquired a new position in shares of A2Z Cust2Mate Solutions during the 2nd quarter worth about $148,000. Geode Capital Management LLC lifted its stake in A2Z Cust2Mate Solutions by 113.3% in the 2nd quarter. Geode Capital Management LLC now owns 21,354 shares of the company’s stock valued at $226,000 after buying an additional 11,342 shares in the last quarter. Squarepoint Ops LLC purchased a new position in A2Z Cust2Mate Solutions in the 4th quarter valued at about $178,000. Finally, Kestra Advisory Services LLC purchased a new position in A2Z Cust2Mate Solutions in the 4th quarter valued at about $206,000. 12.64% of the stock is currently owned by institutional investors and hedge funds.

A2Z Cust2Mate Solutions declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 7th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to repurchase up to 6.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

About A2Z Cust2Mate Solutions

A2Z Smart Technologies Corp., a technology company, focuses on the development and commercialization of retail smart cart solutions for grocery stores and supermarkets in Israel and internationally. The company operates through three segments: Precision Metal Parts, Advanced Engineering, and Smart Carts. It offers Cust2Mate system, which incorporates a smart cart that automatically calculates the value of the customers purchases in their smart cart without having to unload and reload their purchases at a customer checkout point.