Numerex Corp. (NMRX) Upgraded to “Equal Weight” at First Analysis

First Analysis upgraded shares of Numerex Corp. (NASDAQ:NMRX) from an underweight rating to an equal weight rating in a report issued on Friday morning. First Analysis currently has $5.00 price objective on the stock, down from their prior price objective of $5.50.

A number of other analysts have also issued reports on the stock. B. Riley reiterated a buy rating and set a $7.50 price target on shares of Numerex Corp. in a research note on Wednesday, March 15th. Zacks Investment Research upgraded shares of Numerex Corp. from a sell rating to a hold rating in a research note on Wednesday, January 11th.

Numerex Corp. (NASDAQ:NMRX) traded down 2.77% during mid-day trading on Friday, hitting $4.56. 153,232 shares of the stock were exchanged. The firm’s market cap is $89.30 million. The company has a 50 day moving average of $5.36 and a 200 day moving average of $7.03. Numerex Corp. has a 12-month low of $4.30 and a 12-month high of $9.01.

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Several institutional investors have recently made changes to their positions in NMRX. State Street Corp increased its position in shares of Numerex Corp. by 24.5% in the fourth quarter. State Street Corp now owns 161,844 shares of the company’s stock worth $1,198,000 after buying an additional 31,845 shares in the last quarter. Punch & Associates Investment Management Inc. increased its position in shares of Numerex Corp. by 13.1% in the third quarter. Punch & Associates Investment Management Inc. now owns 192,000 shares of the company’s stock worth $1,494,000 after buying an additional 22,200 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Numerex Corp. by 1.8% in the fourth quarter. Renaissance Technologies LLC now owns 259,800 shares of the company’s stock worth $1,923,000 after buying an additional 4,500 shares in the last quarter. 18.01% of the stock is owned by institutional investors and hedge funds.

Numerex Corp. Company Profile

Numerex Corp. is a holding company. The Company, through its subsidiaries, provides managed enterprise solutions, which enable the Internet of Things (IoT). The Company offers solutions to incorporate the IoT building blocks, such as device, network, application and platform. Its technology encompasses a range of the IoT ecosystem and delivers solutions for enterprise users.

5 Day Chart for NASDAQ:NMRX

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