A2Z Cust2Mate Solutions (NASDAQ:AZ) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

A2Z Cust2Mate Solutions (NASDAQ:AZ) posted its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.03), Zacks reports. A2Z Cust2Mate Solutions had a negative return on equity of 62.55% and a negative net margin of 415.62%.The firm had revenue of $3.32 million during the quarter, compared to the consensus estimate of $3.06 million.

A2Z Cust2Mate Solutions Stock Performance

NASDAQ AZ traded down $0.07 on Monday, hitting $6.00. 83,184 shares of the stock traded hands, compared to its average volume of 461,889. The business’s fifty day moving average is $7.08 and its two-hundred day moving average is $6.62. A2Z Cust2Mate Solutions has a 12 month low of $4.97 and a 12 month high of $12.36. The firm has a market capitalization of $267.23 million, a price-to-earnings ratio of -5.93 and a beta of 1.13.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AZ shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of A2Z Cust2Mate Solutions in a research report on Monday, April 20th. Zacks Research upgraded A2Z Cust2Mate Solutions to a “hold” rating in a research note on Monday, March 30th. Wall Street Zen raised A2Z Cust2Mate Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Northland Securities assumed coverage on A2Z Cust2Mate Solutions in a research note on Friday, March 27th. They set an “outperform” rating and a $15.00 target price on the stock. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.00.

Institutional Trading of A2Z Cust2Mate Solutions

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in A2Z Cust2Mate Solutions by 113.3% in the second quarter. Geode Capital Management LLC now owns 21,354 shares of the company’s stock worth $226,000 after purchasing an additional 11,342 shares during the period. Marshall Wace LLP bought a new stake in shares of A2Z Cust2Mate Solutions during the second quarter valued at approximately $412,000. NewEdge Advisors LLC purchased a new position in shares of A2Z Cust2Mate Solutions in the second quarter valued at $148,000. Honeycomb Asset Management LP purchased a new stake in A2Z Cust2Mate Solutions in the 2nd quarter worth about $1,773,000. Finally, Osaic Holdings Inc. purchased a new position in A2Z Cust2Mate Solutions during the 2nd quarter valued at $146,000. 12.64% of the stock is owned by institutional investors.

A2Z Cust2Mate Solutions declared that its board has approved a stock repurchase plan on Friday, March 27th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 7.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

A2Z Cust2Mate Solutions Company Profile

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.