ACCESS Newswire (NYSEAMERICAN:ACCS) Trading Down 6.4% – Here’s What Happened

ACCESS Newswire Inc. (NYSEAMERICAN:ACCS)’s share price dropped 6.4% on Tuesday . The company traded as low as $4.91 and last traded at $4.99. 9,679 shares changed hands during trading, a decline of 69% from the average session volume of 30,982 shares. The stock had previously closed at $5.33.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital decreased their price objective on shares of ACCESS Newswire from $14.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $12.00.

ACCESS Newswire Stock Performance

The stock has a market capitalization of $19.23 million, a price-to-earnings ratio of -11.41 and a beta of 0.39. The company’s 50 day moving average is $6.06 and its 200 day moving average is $6.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 0.82.

ACCESS Newswire (NYSEAMERICAN:ACCS) last issued its earnings results on Tuesday, August 11th. The company reported $0.08 EPS for the quarter. ACCESS Newswire had a positive return on equity of 4.88% and a negative net margin of 7.63%.The business had revenue of $5.62 million during the quarter. On average, research analysts forecast that ACCESS Newswire Inc. will post 0.32 EPS for the current fiscal year.

Insider Activity at ACCESS Newswire

In other ACCESS Newswire news, CEO Brian R. Balbirnie bought 10,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $4.95 per share, for a total transaction of $49,500.00. Following the transaction, the chief executive officer owned 644,667 shares in the company, valued at approximately $3,191,101.65. The trade was a 1.58% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have bought 13,750 shares of company stock worth $71,205. 25.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Punch & Associates Investment Management Inc. lifted its stake in ACCESS Newswire by 3.0% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 142,410 shares of the company’s stock worth $1,324,000 after purchasing an additional 4,150 shares during the period. DRW Securities LLC bought a new stake in shares of ACCESS Newswire in the 4th quarter valued at approximately $117,000. Bridgeway Capital Management LLC acquired a new position in shares of ACCESS Newswire in the 2nd quarter worth approximately $163,000. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of ACCESS Newswire in the 4th quarter worth approximately $140,000. Finally, Geode Capital Management LLC bought a new position in shares of ACCESS Newswire during the 2nd quarter worth approximately $362,000. Institutional investors and hedge funds own 50.02% of the company’s stock.

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.