NEW YORK (TheStreet) -- Shares of CalAmp Corp. (CAMP) are higher by 4.52% to $18.72 in mid-afternoon trading on Tuesday, after the company announced it entered into an expanded supply agreement with the privately held Masternaut Limited, a U.K.-based leading mobile resource management services company.
CalAmp develops and markets wireless technology solutions that deliver data, voice, and video for critical network communications and other applications.
The company said it signed the supply agreement in order to broaden its wireless product offerings, and will be supplying Masternaut with advanced telematics devices to enable trailer, heavy equipment and industrial machinery tracking with Masternaut's Connect telematics platform.
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Separately, TheStreet Ratings team rates CALAMP CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CALAMP CORP (CAMP) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."