CalAmp Corp. (NASDAQ:CAMP) Short Interest Up 24.1% in December

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CalAmp Corp. (NASDAQ:CAMP) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 2,420,000 shares, an increase of 24.1% from the December 15th total of 1,950,000 shares. Approximately 7.4% of the shares of the company are short sold. Based on an average daily trading volume, of 377,200 shares, the days-to-cover ratio is currently 6.4 days.

Several equities analysts have recently issued reports on CAMP shares. Canaccord Genuity decreased their price objective on CalAmp from $24.00 to $17.00 and set an “in-line” rating for the company in a report on Friday, December 20th. Northland Securities started coverage on CalAmp in a report on Monday, December 2nd. They issued a “buy” rating and a $20.00 price objective for the company. BidaskClub cut CalAmp from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Roth Capital reissued a “buy” rating on shares of CalAmp in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. decreased their price objective on CalAmp from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $14.86.

Shares of CAMP stock opened at $10.13 on Tuesday. The stock has a market cap of $329.63 million, a PE ratio of 24.13, a price-to-earnings-growth ratio of 5.42 and a beta of 1.90. The business has a 50-day simple moving average of $10.11 and a 200-day simple moving average of $10.56. The company has a quick ratio of 1.61, a current ratio of 1.95 and a debt-to-equity ratio of 1.07. CalAmp has a 52-week low of $8.99 and a 52-week high of $14.91.

CalAmp (NASDAQ:CAMP) last issued its quarterly earnings data on Thursday, December 19th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. The business had revenue of $96.60 million during the quarter, compared to analysts’ expectations of $95.11 million. CalAmp had a positive return on equity of 6.90% and a negative net margin of 3.36%. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS. Sell-side analysts anticipate that CalAmp will post 0.18 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in CAMP. Atria Investments LLC purchased a new position in shares of CalAmp in the 2nd quarter valued at about $9,248,000. Marshall Wace LLP purchased a new position in shares of CalAmp in the 2nd quarter valued at about $3,732,000. Invesco Ltd. increased its stake in shares of CalAmp by 166.4% in the 2nd quarter. Invesco Ltd. now owns 394,859 shares of the Wireless communications provider’s stock valued at $4,612,000 after purchasing an additional 246,612 shares in the last quarter. John G Ullman & Associates Inc. increased its stake in shares of CalAmp by 150.8% in the 3rd quarter. John G Ullman & Associates Inc. now owns 273,072 shares of the Wireless communications provider’s stock valued at $3,146,000 after purchasing an additional 164,172 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in shares of CalAmp in the 2nd quarter valued at about $1,819,000. Hedge funds and other institutional investors own 78.45% of the company’s stock.

About CalAmp

CalAmp Corp. provides in telematics systems, and software and subscription services in the United States, Latin America, Western Europe, Asia Pacific, the Middle East, Africa, and internationally. The company offers mobile resource management telematics devices for the Internet of Things market, which enable customers to optimize their operations by collecting, monitoring, and reporting business-critical information and desired intelligence from remote and mobile assets.

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