Calamp Corp Down 7.73% To $1.01 After Earnings Miss

Calamp Corp (CAMP) said after close Monday that it lost $0.11 per share in quarter one 2024.

On the revenue line, the company reported $70.9 million, missing estimates by $4.8 million.

In the same quarter a year ago, the company lost $0.34 per share on revenue of $64.7 million.

The stock is down 7.73% to $1.01 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Calamp Corp has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 2, putting Calamp Corp in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $0.97 on June 28, 2023 and set a 52-week high on August 18, 2022 at $6.42.

CalAmp Corp provides wireless communications solutions applications to customers. The company's products, software, and application services are sold into a broad array of market verticals, including transportation, government, construction, and automotive to customers in the United States; Latin America; Europe the Middle East, and Africa; Asia-Pacific; and others. Its business activities are organized into its Telematics Systems and Software & Subscription Services. The Telematics Systems segment offers a series of Mobile Resource Management ('MRM') telematics products and applications. The software & Subscription Services segment offers cloud-based application enablement and telematics service platforms.