Professional Diversity Network, Inc. (NASDAQ:IPDN) Sees Large Decline in Short Interest

Professional Diversity Network, Inc. (NASDAQ:IPDN) was the recipient of a large decline in short interest in March. As of March 13th, there was short interest totaling 171,815 shares, a decline of 44.6% from the February 26th total of 310,285 shares. Based on an average daily volume of 110,033 shares, the short-interest ratio is presently 1.6 days. Approximately 3.6% of the company’s shares are sold short.

Professional Diversity Network Price Performance

Shares of IPDN stock remained flat at $1.18 during trading on Friday. 40,381 shares of the company traded hands, compared to its average volume of 92,347. The business’s fifty day moving average is $1.35 and its 200-day moving average is $2.06. Professional Diversity Network has a twelve month low of $0.96 and a twelve month high of $12.39. The company has a market capitalization of $5.76 million, a price-to-earnings ratio of -0.59 and a beta of 1.86.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Professional Diversity Network in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Professional Diversity Network has an average rating of “Sell”.

Institutional Trading of Professional Diversity Network

A hedge fund recently raised its stake in Professional Diversity Network stock. Geode Capital Management LLC raised its position in Professional Diversity Network, Inc. (NASDAQ:IPDN) by 140.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,785 shares of the information services provider’s stock after purchasing an additional 15,625 shares during the quarter. Geode Capital Management LLC owned approximately 0.55% of Professional Diversity Network worth $31,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.