The stock of CalAmp Corp. (NASDAQ:CAMP) gapped down by $1.66 today and has $13.25 target or 5.00% below today’s $13.95 share price. The 6 months technical chart setup indicates high risk for the $509.87M company. The gap down was reported on Oct, 1 by Barchart.com. If the $13.25 price target is reached, the company will be worth $25.49M 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 14.99% or $2.46 during the last trading session, hitting $13.95. About 6.76 million shares traded hands or 1901.92% up from the average. CalAmp Corp. (NASDAQ:CAMP) has declined 23.69% since February 29, 2016 and is downtrending. It has underperformed by 34.11% the S&P500.
Analysts await CalAmp Corp. (NASDAQ:CAMP) to report earnings on October, 6. They expect $0.21 earnings per share, down 16.00% or $0.04 from last year’s $0.25 per share. CAMP’s profit will be $7.68M for 16.61 P/E if the $0.21 EPS becomes a reality. After $0.27 actual earnings per share reported by CalAmp Corp. for the previous quarter, Wall Street now forecasts -22.22% negative EPS growth.
CalAmp Corp. (NASDAQ:CAMP) Ratings Coverage
Out of 7 analysts covering CalAmp (NASDAQ:CAMP), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. CalAmp has been the topic of 9 analyst reports since December 7, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Chardan Capital Markets given on Monday, December 7. Craig Hallum maintained CalAmp Corp. (NASDAQ:CAMP) on Wednesday, June 29 with “Buy” rating. The stock of CalAmp Corp. (NASDAQ:CAMP) has “Buy” rating given on Wednesday, December 23 by Canaccord Genuity. The firm has “Outperform” rating by Northland Capital given on Tuesday, March 22. The firm earned “Market Perform” rating on Wednesday, April 20 by William Blair. The firm earned “Overweight” rating on Monday, August 15 by First Analysis. The rating was upgraded by Sidoti to “Buy” on Monday, May 9. First Analysis downgraded the stock to “Equal-Weight” rating in Friday, September 30 report. The firm has “Neutral” rating given on Tuesday, March 22 by Sidoti.
According to Zacks Investment Research, “CalAmp Corp. is a leading provider of wireless communications products that enable anytime/anywhere access to critical information, data and entertainment content. With comprehensive capabilities ranging from product design and development through volume production, CalAmp delivers cost-effective high quality solutions to a broad array of customers and end markets. CalAmp is the leading supplier of Direct Broadcast Satellite outdoor customer premise equipment to the U.S. satellite television market. The Company also provides wireless data communication solutions for the telemetry and asset tracking markets, private wireless networks, public safety communications and critical infrastructure and process control applications.”
Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.31, from 1.31 in 2016Q1. The ratio turned negative, as 23 funds sold all CalAmp Corp. shares owned while 46 reduced positions. 21 funds bought stakes while 48 increased positions. They now own 22.80 million shares or 12.80% less from 26.15 million shares in 2016Q1.
Thrivent Financial For Lutherans accumulated 17,750 shares or 0% of the stock. Empire Mgmt Ltd Liability holds 59,000 shares or 1.29% of its portfolio. Moreover, Walleye Trading Limited Liability Corp has 0% invested in CalAmp Corp. (NASDAQ:CAMP) for 12,566 shares. The Kentucky-based Teachers Retirement Sys Of The State Of Kentucky has invested 0% in CalAmp Corp. (NASDAQ:CAMP). Mutual Of America Lc last reported 0.12% of its portfolio in the stock. Prudential Inc has 0% invested in the company for 104,180 shares. Swiss State Bank accumulated 0% or 59,500 shares. Moreover, Blackrock Incorporated has 0% invested in CalAmp Corp. (NASDAQ:CAMP) for 3,732 shares. Glenmede Na accumulated 0% or 300 shares. Comerica Comml Bank last reported 36,507 shares in the company. Schwab Charles Management has 0% invested in the company for 122,876 shares. Teachers Advisors reported 54,568 shares or 0% of all its holdings. Moreover, Voya Mgmt Limited Com has 0% invested in CalAmp Corp. (NASDAQ:CAMP) for 17,355 shares. Westwood Mgmt Il accumulated 73,000 shares or 0.21% of the stock. Wells Fargo & Mn has 107,681 shares for 0% of their US portfolio.
Insider Transactions: Since March 31, 2016, the stock had 1 buying transaction, and 5 selling transactions for $681,261 net activity. $21,000 worth of CalAmp Corp. (NASDAQ:CAMP) was sold by VITELLE RICHARD K on Friday, July 1. The insider GARDNER JEFFERY R bought $14,110.
More important recent CalAmp Corp. (NASDAQ:CAMP) news were published by: Fool.com which released: “Why CalAmp Corp. Stock Plunged Today” on September 30, 2016, also Investorplace.com published article titled: “Why CalAmp Corp. (CAMP), Cognizant Technology Solutions Corp (CTSH) and Wynn …”, Wsj.com published: “CalAmp Shares Fall as Profit Slips” on September 29, 2016. More interesting news about CalAmp Corp. (NASDAQ:CAMP) was released by: Benzinga.com and their article: “Must Watch Stocks for September 30, 2016” with publication date: September 30, 2016.
CAMP Company Profile
CalAmp Corp. (CalAmp), incorporated on September 8, 1987, is a well-known provider of wireless communications solutions for a range of applications to clients globally. The Firm operates through two business divisions: Wireless DataCom and Satellite. The Firm has facilities in various locations, including Carlsbad, California; Torrance, California; Herndon, Virginia; Waseca, Minnesota; Eden Prairie, Minnesota, and Auckland, New Zealand.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.