ACCESS Newswire (NYSEAMERICAN:ACCS) Stock Price Down 2.2% – Here’s What Happened

ACCESS Newswire Inc. (NYSEAMERICAN:ACCS) shares traded down 2.2% on Thursday . The stock traded as low as $6.56 and last traded at $6.73. 13,447 shares changed hands during mid-day trading, a decline of 3% from the average session volume of 13,830 shares. The stock had previously closed at $6.88.

Analysts Set New Price Targets

Separately, Lake Street Capital lowered their price objective on shares of ACCESS Newswire from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, ACCESS Newswire has an average rating of “Buy” and an average price target of $12.00.

ACCESS Newswire Stock Down 2.2%

The company has a 50 day simple moving average of $6.57 and a two-hundred day simple moving average of $7.34. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $26.11 million, a P/E ratio of -15.30 and a beta of 0.40.

ACCESS Newswire (NYSEAMERICAN:ACCS) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $5.33 million for the quarter. ACCESS Newswire had a positive return on equity of 5.57% and a negative net margin of 7.60%. As a group, equities analysts predict that ACCESS Newswire Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Brian R. Balbirnie purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were bought at an average price of $6.46 per share, for a total transaction of $64,600.00. Following the acquisition, the chief executive officer owned 632,917 shares of the company’s stock, valued at approximately $4,088,643.82. This represents a 1.61% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders acquired 13,750 shares of company stock worth $89,575. Corporate insiders own 25.03% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Topline Capital Management LLC purchased a new stake in shares of ACCESS Newswire in the second quarter valued at $8,724,000. Punch & Associates Investment Management Inc. boosted its stake in shares of ACCESS Newswire by 7.0% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 152,410 shares of the company’s stock worth $1,350,000 after purchasing an additional 10,000 shares during the period. Geode Capital Management LLC bought a new position in ACCESS Newswire during the 2nd quarter valued at about $362,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in ACCESS Newswire in the 4th quarter worth about $140,000. Finally, Bridgeway Capital Management LLC purchased a new stake in ACCESS Newswire in the 2nd quarter worth about $163,000. Institutional investors own 50.02% of the company’s stock.

ACCESS Newswire Company Profile

Issuer Direct Corporation operates as a communications and compliance company, provides solutions for both public relations and investor relations professionals in the United States and internationally. The company provides press release distribution, media databases, media monitoring, and newsrooms through media advantage platform; ACCESSWIRE, a news dissemination and media outreach service; and Webcaster Platform, a cloud-based webcast, webinar, and virtual meeting platform that delivers live and on-demand streaming of events to audiences of various sizes, as well as allows customers to create, produce, and deliver events.