Shares of Arlo Technologies Inc. (ARLO), a San Jose, California-based home automation company, are climbing more than 13 percent or $1.15 in Monday's morning trade at $9.56, after hitting a new 52-week high of $9.87 despite no company-specific news.
U.S. stocks are rising on Monday following the sell-off seen last Friday, as traders look to pick up stocks at somewhat reduced levels after the markets saw their biggest weekly decline since October.
Arlo Technologies will report its financial results for the fourth quarter on February 23, 2021, after the market closes. On average, analysts polled by Thomson Reuters expect the company to report loss of $0.18 per share for the quarter on revenues of $111.57 million.
Arlo Technologies has traded in a range of $1.20 to $9.87 in the past 52 weeks.
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