A2Z Cust2Mate Solutions (NASDAQ:AZ) Stock Rating Lowered by Zacks Research

A2Z Cust2Mate Solutions (NASDAQ:AZ) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages also recently commented on AZ. Northland Securities initiated coverage on A2Z Cust2Mate Solutions in a research note on Friday, March 27th. They issued an “outperform” rating and a $15.00 target price on the stock. Wall Street Zen upgraded A2Z Cust2Mate Solutions from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of A2Z Cust2Mate Solutions in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, A2Z Cust2Mate Solutions has an average rating of “Hold” and an average price target of $15.00.

A2Z Cust2Mate Solutions Stock Down 0.5%

Shares of NASDAQ:AZ opened at $5.54 on Monday. The firm has a fifty day moving average of $6.18 and a two-hundred day moving average of $6.55. A2Z Cust2Mate Solutions has a 12-month low of $4.97 and a 12-month high of $11.90. The firm has a market capitalization of $246.75 million, a P/E ratio of -5.43 and a beta of 1.16.

A2Z Cust2Mate Solutions (NASDAQ:AZ) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). A2Z Cust2Mate Solutions had a negative return on equity of 62.55% and a negative net margin of 415.62%.The company had revenue of $3.32 million during the quarter, compared to analyst estimates of $3.06 million. Equities research analysts expect that A2Z Cust2Mate Solutions will post -0.51 earnings per share for the current fiscal year.

A2Z Cust2Mate Solutions announced that its board has initiated a stock repurchase plan on Friday, March 27th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the company to reacquire up to 7.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On A2Z Cust2Mate Solutions

Several hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. acquired a new stake in shares of A2Z Cust2Mate Solutions in the second quarter worth about $146,000. NewEdge Advisors LLC acquired a new position in shares of A2Z Cust2Mate Solutions during the 2nd quarter valued at about $148,000. Red Door Wealth Management LLC acquired a new position in shares of A2Z Cust2Mate Solutions during the 4th quarter valued at about $91,000. Geode Capital Management LLC raised its stake in shares of A2Z Cust2Mate Solutions by 113.3% in the 2nd quarter. Geode Capital Management LLC now owns 21,354 shares of the company’s stock valued at $226,000 after acquiring an additional 11,342 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in A2Z Cust2Mate Solutions in the 4th quarter worth approximately $178,000. 12.64% of the stock is owned by institutional investors and hedge funds.

About A2Z Cust2Mate Solutions

A2Z Smart Technologies Corp., a technology company, focuses on the development and commercialization of retail smart cart solutions for grocery stores and supermarkets in Israel and internationally. The company operates through three segments: Precision Metal Parts, Advanced Engineering, and Smart Carts. It offers Cust2Mate system, which incorporates a smart cart that automatically calculates the value of the customers purchases in their smart cart without having to unload and reload their purchases at a customer checkout point.