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

Shares of ACCESS Newswire Inc. (NYSEAMERICAN:ACCS) were down 2.2% during mid-day trading on Thursday . The company traded as low as $6.56 and last traded at $6.73. Approximately 13,447 shares traded 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 ACCESS Newswire from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. One analyst has rated the stock with a Buy rating, According to MarketBeat, ACCESS Newswire currently has a consensus rating of “Buy” and a consensus price target of $12.00.

ACCESS Newswire Stock Performance

The firm’s 50-day moving average price is $6.57 and its 200-day moving average price is $7.34. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $26.11 million, a P/E ratio of -15.30 and a beta of 0.40.

ACCESS Newswire (NYSEAMERICAN:ACCS) last issued its earnings results on Tuesday, May 12th. The company reported $0.11 earnings per share for the quarter. The firm had revenue of $5.33 million during the quarter. ACCESS Newswire had a negative net margin of 7.60% and a positive return on equity of 5.57%. Sell-side analysts expect that ACCESS Newswire Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian R. Balbirnie acquired 10,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was acquired at an average price of $6.46 per share, with a total value of $64,600.00. Following the acquisition, the chief executive officer directly owned 632,917 shares of the company’s stock, valued at approximately $4,088,643.82. This trade represents a 1.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have acquired 13,750 shares of company stock valued at $89,575. 25.03% of the stock is owned by insiders.

Institutional Investors Weigh In On ACCESS Newswire

A number of hedge funds have recently made changes to their positions in ACCS. Topline Capital Management LLC bought a new position in ACCESS Newswire during the second quarter valued at approximately $8,724,000. Punch & Associates Investment Management Inc. grew its holdings in ACCESS Newswire by 7.0% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 152,410 shares of the company’s stock valued at $1,350,000 after buying an additional 10,000 shares in the last quarter. Geode Capital Management LLC bought a new stake in ACCESS Newswire in the 2nd quarter worth approximately $362,000. Nano Cap New Millennium Growth Fund L P bought a new stake in ACCESS Newswire in the 4th quarter worth approximately $140,000. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of ACCESS Newswire during the 2nd quarter worth approximately $163,000. 50.02% of the stock is currently owned by hedge funds and other institutional investors.

About ACCESS Newswire

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.