Professional Diversity Network (NASDAQ:IPDN) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Professional Diversity Network, Inc. (NASDAQ:IPDN)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.42 and traded as low as $1.18. Professional Diversity Network shares last traded at $1.20, with a volume of 237,600 shares.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IPDN. Wall Street Zen downgraded Professional Diversity Network from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Professional Diversity Network in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Professional Diversity Network Stock Performance

The company has a 50 day moving average of $1.35 and a 200 day moving average of $2.42. The firm has a market cap of $5.86 million, a P/E ratio of -0.60 and a beta of 1.89.

Institutional Investors Weigh In On Professional Diversity Network

A hedge fund recently raised its stake in Professional Diversity Network stock. Geode Capital Management LLC boosted its holdings in shares of Professional Diversity Network, Inc. (NASDAQ:IPDN) by 140.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,785 shares of the information services provider’s stock after buying an additional 15,625 shares during the quarter. Geode Capital Management LLC owned about 0.55% of Professional Diversity Network worth $31,000 at the end of the most recent quarter. Institutional investors own 27.75% of the company’s stock.

Professional Diversity Network Company Profile

Professional Diversity Network, Inc (NASDAQ:IPDN) is a provider of online career marketplace platforms designed to connect underrepresented talent with employment opportunities across various industries. Through its flagship PDN network, the company facilitates targeted recruiting solutions for organizations seeking to build more diverse and inclusive workforces. Its services include employer-branded career sites, targeted job advertising and custom recruitment campaigns tailored to attract diverse candidates, including women, minorities, veterans, people with disabilities and LGBTQ+ professionals.

The company’s portfolio encompasses a series of specialty job boards and career networks, each focused on specific demographic segments.