Reservoir Media (NASDAQ:RSVR) Stock Price Crosses Below 200-Day Moving Average – What’s Next?

Reservoir Media, Inc. (NASDAQ:RSVR)’s share price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $9.53 and traded as low as $9.51. Reservoir Media shares last traded at $9.52, with a volume of 27,186 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Reservoir Media from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Reservoir Media presently has a consensus rating of “Hold”.

Reservoir Media Price Performance

The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.22. The stock has a market cap of $626.55 million, a price-to-earnings ratio of 73.24 and a beta of 0.77. The stock has a 50-day moving average price of $9.55 and a two-hundred day moving average price of $9.53.

Institutional Investors Weigh In On Reservoir Media

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Reservoir Media in the second quarter worth about $12,533,000. AWM Investment Company Inc. purchased a new stake in shares of Reservoir Media during the second quarter worth about $5,395,000. Nantahala Capital Management LLC acquired a new position in shares of Reservoir Media during the second quarter valued at about $9,306,094. Irenic Capital Management LP increased its holdings in shares of Reservoir Media by 3.3% during the first quarter. Irenic Capital Management LP now owns 6,181,176 shares of the company’s stock valued at $60,514,000 after acquiring an additional 195,000 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Reservoir Media during the second quarter valued at about $696,000. 44.38% of the stock is currently owned by hedge funds and other institutional investors.

Reservoir Media Company Profile

Reservoir Media, Inc is a global independent music company that owns, administers and manages rights to musical compositions and sound recordings. Its business includes music publishing, recorded music, rights management and royalty collection, serving songwriters, artists, producers and other rights holders.

The company’s catalog spans a broad range of genres and includes contemporary and historic songs, recordings and music-related intellectual property. Reservoir also operates record labels and provides services such as creative support, licensing, synchronization and administration for uses of music in film, television, advertising, video games and other media.

Founded in 2007, Reservoir has expanded through acquisitions and partnerships involving music publishing catalogs, recorded-music assets and related businesses.