CalAmp Corp. (NASDAQ:CAMP – Get Free Report) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 103,200 shares, a drop of 10.3% from the February 29th total of 115,100 shares. Approximately 6.5% of the company’s stock are sold short. Based on an average daily trading volume, of 146,000 shares, the short-interest ratio is presently 0.7 days.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded CalAmp from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th.
Read Our Latest Analysis on CAMP
CalAmp Stock Down 9.3 %
CalAmp (NASDAQ:CAMP – Get Free Report) last announced its quarterly earnings results on Tuesday, January 9th. The Wireless communications provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). CalAmp had a negative net margin of 38.28% and a negative return on equity of 51.60%. The business had revenue of $53.63 million during the quarter, compared to the consensus estimate of $51.80 million. Sell-side analysts predict that CalAmp will post -10.81 EPS for the current fiscal year.
Hedge Funds Weigh In On CalAmp
Several large investors have recently added to or reduced their stakes in CAMP. Bank of New York Mellon Corp lifted its position in CalAmp by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 357,534 shares of the Wireless communications provider’s stock valued at $2,614,000 after acquiring an additional 11,828 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of CalAmp by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 19,506 shares of the Wireless communications provider’s stock worth $143,000 after buying an additional 6,955 shares in the last quarter. Rhumbline Advisers lifted its position in shares of CalAmp by 8.2% during the 1st quarter. Rhumbline Advisers now owns 99,630 shares of the Wireless communications provider’s stock worth $728,000 after buying an additional 7,546 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of CalAmp by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,953 shares of the Wireless communications provider’s stock worth $226,000 after buying an additional 3,833 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of CalAmp by 0.4% during the 1st quarter. BlackRock Inc. now owns 5,530,984 shares of the Wireless communications provider’s stock worth $40,431,000 after buying an additional 20,623 shares in the last quarter.
CalAmp Company Profile
CalAmp Corp., a connected intelligence company, provides leverages a data-driven solutions ecosystem to people and organizations in the United States, Europe, the Middle East, Africa, Latin America, the Asia-Pacific, and internationally. The company operates in two segments, Software & Subscription Services and Telematics Products.
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