Izea Worldwide (NASDAQ:IZEA) Share Price Crosses Above Fifty Day Moving Average After Earnings Miss

Izea Worldwide, Inc. (NASDAQ:IZEA)’s stock price crossed above its 50 day moving average during trading on Friday following a stronger than expected earnings report. The stock has a 50 day moving average of $2.46 and traded as high as $2.53. Izea Worldwide shares last traded at $2.49, with a volume of 100,259 shares.

The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.07). Izea Worldwide had a negative return on equity of 6.37% and a negative net margin of 12.47%. The company had revenue of $6.20 million during the quarter, compared to analysts’ expectations of $9.50 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Izea Worldwide in a research note on Monday, August 31st. Two analysts have rated the stock with a Sell rating. Based on data from MarketBeat, Izea Worldwide presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Izea Worldwide

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in Izea Worldwide by 59.8% in the 1st quarter. Renaissance Technologies LLC now owns 147,740 shares of the company’s stock worth $519,000 after acquiring an additional 55,300 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Izea Worldwide by 733.2% in the second quarter. NewEdge Advisors LLC now owns 37,051 shares of the company’s stock valued at $137,000 after acquiring an additional 32,604 shares during the period. Finally, Diversify Wealth Management LLC purchased a new position in shares of Izea Worldwide in the first quarter valued at about $97,000. Hedge funds and other institutional investors own 15.56% of the company’s stock.

Izea Worldwide Price Performance

The stock has a market capitalization of $43.08 million, a P/E ratio of -13.83 and a beta of 1.19. The firm’s 50 day moving average price is $2.46 and its 200 day moving average price is $3.33.

Izea Worldwide Company Profile

IZEA Worldwide, Inc. (NASDAQ: IZEA) is a marketing technology company that operates in the creator economy. The company helps brands and agencies develop and execute influencer marketing campaigns by connecting them with creators, including social media influencers, bloggers, and other digital content producers. IZEA provides both technology-enabled and managed services. Its offerings support creator discovery, campaign planning, content development, workflow management, payments, and performance measurement.