The stock of Numerex Corp. (NASDAQ:NMRX) gapped down by $0.01 today and has $7.00 target or 10.00% below today’s $7.78 share price. The 9 months technical chart setup indicates high risk for the $151.68M company. The gap down was reported on Oct, 1 by Barchart.com. If the $7.00 price target is reached, the company will be worth $15.17 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 2.02% or $0.16 during the last trading session, hitting $7.78. About 30,648 shares traded hands or 16.16% up from the average. Numerex Corp. (NASDAQ:NMRX) has risen 32.54% since February 29, 2016 and is uptrending. It has outperformed by 22.11% the S&P500.
Analysts await Numerex Corp. (NASDAQ:NMRX) to report earnings on November, 2. They expect $-0.06 EPS, up 66.67% or $0.12 from last year’s $-0.18 per share. After $-0.15 actual EPS reported by Numerex Corp. for the previous quarter, Wall Street now forecasts -60.00% EPS growth.
Numerex Corp. (NASDAQ:NMRX) Ratings Coverage
Out of 3 analysts covering Numerex Corp (NASDAQ:NMRX), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Numerex Corp has been the topic of 6 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The company was downgraded on Tuesday, May 10 by Canaccord Genuity. The stock has “Hold” rating given by Zacks on Friday, August 7. The stock of Numerex Corp. (NASDAQ:NMRX) has “Buy” rating given on Tuesday, March 15 by Canaccord Genuity. The company was downgraded on Thursday, November 5 by Sidoti. The company was initiated on Friday, April 15 by B. Riley & Co.
According to Zacks Investment Research, “Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company’s solutions produce new revenue streams or create operating efficiencies for its customers. Numerex provides its technology and services through its integrated platforms, which are generally sold on a subscription basis. The Company offers a portfolio of managed end-to-end IoT solutions including smart devices, network connectivity and service applications capable of addressing the needs of a wide spectrum of vertical markets and industrial customers. The Company’s mission is to empower enterprise operations with world-class, managed IoT solutions that are simple, innovative, scalable, and secure. Numerex is ISO 27001 information security-certified, highlighting the Company’s focus on data security, service reliability and around-the-clock support of its customers.”
Insitutional Activity: The institutional sentiment increased to 3.13 in Q2 2016. Its up 2.23, from 0.9 in 2016Q1. The ratio is positive, as 4 funds sold all Numerex Corp. shares owned while 4 reduced positions. 15 funds bought stakes while 10 increased positions. They now own 5.82 million shares or 180.40% more from 2.08 million shares in 2016Q1.
New York State Common Retirement Fund holds 0% of its portfolio in Numerex Corp. (NASDAQ:NMRX) for 14,300 shares. Zacks Investment Management accumulated 11,073 shares or 0% of the stock. California State Teachers Retirement System has invested 0% of its portfolio in Numerex Corp. (NASDAQ:NMRX). Dimensional Fund Advisors Limited Partnership holds 0% or 319,948 shares in its portfolio. Savings Bank Of America De accumulated 0% or 261 shares. Ladenburg Thalmann Fincl holds 0% of its portfolio in Numerex Corp. (NASDAQ:NMRX) for 8,600 shares. Merriman Wealth Mngmt Ltd Company accumulated 55,700 shares or 0.12% of the stock. Intl Grp Inc Inc last reported 7,963 shares in the company. Fincl Bank Of New York Mellon last reported 37,074 shares in the company. Tiaa Cref Mngmt Ltd Com holds 0% or 43,069 shares in its portfolio. Springbok Cap Management Limited Liability Corp has 0.01% invested in the company for 7,370 shares. Vanguard Grp Inc Inc accumulated 343,880 shares or 0% of the stock. Northern Corp holds 0% or 171,798 shares in its portfolio. Moreover, California Public Employees Retirement Systems has 0% invested in Numerex Corp. (NASDAQ:NMRX) for 37,000 shares. Blackrock Inc accumulated 1,719 shares or 0% of the stock.
NMRX Company Profile
Numerex Corp., incorporated on March 7, 1994, is a holding company. The Company, through its subsidiaries, provides managed enterprise solutions, which enable the Internet of Things (IoT). The Firm offers solutions to incorporate the IoT building blocks, such as device, network, application and platform. The Company’s technology encompasses a range of the IoT ecosystem and delivers solutions for enterprise users. The Firm provides various enabling value-added services through the go-to-market process for its clients by simplifying the IoT implementation through its cloud and horizontal IoT platform. The Company’s offerings include cellular, satellite, broadband and wireline networks across the world to transmit data.
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