Emerald (NYSE:EEX) Shares Pass Below 50 Day Moving Average – What’s Next?

Emerald Holding, Inc. (NYSE:EEX)’s stock price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.03 and traded as low as $5.02. Emerald shares last traded at $5.0390, with a volume of 220,030 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on EEX shares. Rosenblatt Securities reiterated a “neutral” rating and issued a $5.03 price objective (down from $7.70) on shares of Emerald in a research note on Tuesday, May 12th. Weiss Ratings upgraded Emerald from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Finally, Maxim Group lowered Emerald from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $5.03.

Emerald Trading Down 0.0%

The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.91 and a current ratio of 0.91. The company’s 50 day moving average is $5.03 and its 200 day moving average is $4.81. The stock has a market capitalization of $997.26 million, a price-to-earnings ratio of -26.52 and a beta of 0.57.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its stake in shares of Emerald by 127.0% in the fourth quarter. Russell Investments Group Ltd. now owns 6,957 shares of the company’s stock valued at $31,000 after buying an additional 3,892 shares during the period. Abel Hall LLC bought a new position in Emerald during the first quarter valued at about $48,000. Deutsche Bank AG bought a new position in Emerald during the second quarter valued at about $71,000. Ritholtz Wealth Management acquired a new position in Emerald in the 4th quarter valued at approximately $67,000. Finally, Wells Fargo & Company MN raised its holdings in Emerald by 79.0% in the 4th quarter. Wells Fargo & Company MN now owns 15,308 shares of the company’s stock valued at $68,000 after acquiring an additional 6,756 shares in the last quarter. Institutional investors and hedge funds own 14.90% of the company’s stock.

About Emerald

Emerald (NYSE: EEX) is a global provider of independent data, news and analytics for commodity, financial and energy markets. The company operates digital platforms that deliver real-time and historical price assessments, market commentary, research reports and risk-management tools. Its subscriber base spans traders, asset managers, corporate hedgers and financial institutions seeking timely intelligence to support trading, risk management and investment decisions.

Serving clients across North America, Europe and Asia-Pacific, Emerald covers a broad range of markets including metals, energy products, agriculture, freight, environmental emissions and treasury benchmarks.