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

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

A number of hedge funds have recently modified their holdings of the business. California Public Employees Retirement System increased its holdings in CalAmp by 7.1% during the third quarter. California Public Employees Retirement System now owns 358,554 shares of the Wireless communications provider’s stock worth $4,131,000 after buying an additional 23,920 shares during the last quarter. State of Tennessee Treasury Department increased its holdings in shares of CalAmp by 8.5% in the third quarter. State of Tennessee Treasury Department now owns 15,530 shares of the Wireless communications provider’s stock valued at $179,000 after purchasing an additional 1,221 shares during the last quarter. John G Ullman & Associates Inc. increased its holdings in shares of CalAmp by 150.8% in the third 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 during the last quarter. Squarepoint Ops LLC boosted its position in shares of CalAmp by 84.3% in the third quarter. Squarepoint Ops LLC now owns 66,578 shares of the Wireless communications provider’s stock valued at $767,000 after acquiring an additional 30,453 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of CalAmp in the third quarter valued at about $423,000. Hedge funds and other institutional investors own 78.45% of the company’s stock.

CAMP has been the subject of several research reports. First Analysis cut shares of CalAmp from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $17.00 to $12.00 in a research note on Friday, December 20th. Craig Hallum reduced their target price on shares of CalAmp from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Canaccord Genuity reduced their target price on shares of CalAmp from $24.00 to $17.00 and set an “in-line” rating on the stock in a report on Friday, December 20th. Roth Capital restated a “buy” rating on shares of CalAmp in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of CalAmp from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.86.

NASDAQ:CAMP opened at $10.13 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.61 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $329.63 million, a price-to-earnings ratio of 24.13, a PEG ratio of 5.42 and a beta of 1.90. The firm’s fifty day simple moving average is $10.11 and its 200 day simple moving average is $10.56. CalAmp has a twelve month low of $8.99 and a twelve month high of $14.91.

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

CalAmp Company Profile

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.

Further Reading: How Do You Calculate Return on Equity (ROE)?

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