Izea Worldwide (NASDAQ:IZEA) Share Price Crosses Above Fifty Day Moving Average After Earnings Miss

Shares of Izea Worldwide, Inc. (NASDAQ:IZEA) passed above its fifty day moving average during trading on Friday following a better than expected earnings announcement. The stock has a fifty day moving average of $2.46 and traded as high as $2.53. Izea Worldwide shares last traded at $2.49, with a volume of 100,259 shares trading hands.

The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The company had revenue of $6.20 million during the quarter, compared to the consensus estimate of $9.50 million. Izea Worldwide had a negative return on equity of 6.37% and a negative net margin of 12.47%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Izea Worldwide in a research report on Monday, August 31st. Two equities research analysts have rated the stock with a Sell rating. According to MarketBeat, the company currently has an average rating of “Sell”.

Institutional Trading of Izea Worldwide

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in shares of Izea Worldwide by 59.8% during the first quarter. Renaissance Technologies LLC now owns 147,740 shares of the company’s stock worth $519,000 after acquiring an additional 55,300 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Izea Worldwide by 733.2% during the 2nd quarter. NewEdge Advisors LLC now owns 37,051 shares of the company’s stock valued at $137,000 after purchasing an additional 32,604 shares during the last quarter. Finally, Diversify Wealth Management LLC purchased a new position in Izea Worldwide in the 1st quarter worth $97,000. Institutional investors own 15.56% of the company’s stock.

Izea Worldwide Stock Performance

The company has a market cap of $43.08 million, a PE ratio of -13.83 and a beta of 1.19. The business’s 50-day moving average is $2.46 and its 200 day moving average is $3.33.

Izea Worldwide Company Profile

IZEA Worldwide, Inc. (NASDAQ: IZEA) is a marketing technology company that operates in the creator economy. The company helps brands and agencies develop and execute influencer marketing campaigns by connecting them with creators, including social media influencers, bloggers, and other digital content producers. IZEA provides both technology-enabled and managed services. Its offerings support creator discovery, campaign planning, content development, workflow management, payments, and performance measurement.