CalAmp (NASDAQ:CAMP) Downgraded by StockNews.com

CalAmp (NASDAQ:CAMPGet Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

CalAmp Trading Down 6.7 %

Shares of CalAmp stock traded down $0.22 during midday trading on Wednesday, reaching $3.07. 62,646 shares of the company’s stock traded hands, compared to its average volume of 208,474. The company has a market cap of $5.07 million, a PE ratio of -0.05 and a beta of 2.05. The stock has a 50 day moving average of $4.21 and a 200-day moving average of $7.51. CalAmp has a 12 month low of $2.29 and a 12 month high of $103.27. The company has a debt-to-equity ratio of 21.58, a quick ratio of 1.35 and a current ratio of 1.69.

CalAmp (NASDAQ:CAMPGet Free Report) last announced its quarterly earnings results on Tuesday, January 9th. The Wireless communications provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The company had revenue of $53.63 million for the quarter, compared to analysts’ expectations of $51.80 million. CalAmp had a negative net margin of 38.28% and a negative return on equity of 51.60%. As a group, equities analysts expect that CalAmp will post -10.81 EPS for the current fiscal year.

Hedge Funds Weigh In On CalAmp

A number of institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of CalAmp by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 93,494 shares of the Wireless communications provider’s stock worth $684,000 after purchasing an additional 2,546 shares in the last quarter. Citigroup Inc. boosted its holdings in CalAmp by 73.6% in the fourth quarter. Citigroup Inc. now owns 6,949 shares of the Wireless communications provider’s stock worth $31,000 after acquiring an additional 2,946 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of CalAmp by 14.1% in the first 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 acquiring an additional 3,833 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of CalAmp by 74.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,615 shares of the Wireless communications provider’s stock valued at $52,000 after acquiring an additional 4,962 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of CalAmp by 10.4% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 57,500 shares of the Wireless communications provider’s stock worth $221,000 after purchasing an additional 5,400 shares during the last quarter. Institutional investors own 62.86% of the company’s stock.

About CalAmp

(Get Free Report)

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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