Emerald (NYSE:EEX) Share Price Passes Below Fifty Day Moving Average – Time to Sell?
by Renee Jackson · The Cerbat GemEmerald Holding, Inc. (NYSE:EEX – Get Free Report) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.02 and traded as low as $5.02. Emerald shares last traded at $5.0390, with a volume of 220,030 shares.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on EEX shares. Weiss Ratings upgraded Emerald from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Rosenblatt Securities restated a “neutral” rating and set a $5.03 price target (down from $7.70) on shares of Emerald in a research note on Tuesday, May 12th. Finally, Maxim Group downgraded Emerald from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $5.03.
Check Out Our Latest Stock Analysis on EEX
Emerald Stock Performance
The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.47. The firm has a market cap of $997.26 million, a PE ratio of -26.52 and a beta of 0.57. The stock’s 50 day moving average price is $5.03 and its 200 day moving average price is $4.80.
Emerald (NYSE:EEX – Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The business had revenue of $155.40 million for the quarter, compared to analysts’ expectations of $155.40 million. Emerald had a negative return on equity of 10.81% and a negative net margin of 8.24%.
Institutional Investors Weigh In On Emerald
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Emerald during the 2nd quarter worth approximately $5,547,000. Deutsche Bank AG purchased a new stake in shares of Emerald during the second quarter valued at approximately $71,000. Bank of New York Mellon Corp purchased a new stake in shares of Emerald during the second quarter valued at approximately $1,420,000. Sei Investments Co. lifted its position in shares of Emerald by 100.0% during the first quarter. Sei Investments Co. now owns 37,200 shares of the company’s stock worth $168,000 after purchasing an additional 18,600 shares in the last quarter. Finally, Abel Hall LLC acquired a new position in shares of Emerald during the first quarter worth $48,000. 14.90% of the stock is currently owned by hedge funds and other institutional investors.
Emerald Company Profile
Emerald (NYSE: EEX) is a global provider of independent data, news and analytics for commodity, financial and energy markets. The company operates digital platforms that deliver real-time and historical price assessments, market commentary, research reports and risk-management tools. Its subscriber base spans traders, asset managers, corporate hedgers and financial institutions seeking timely intelligence to support trading, risk management and investment decisions.
Serving clients across North America, Europe and Asia-Pacific, Emerald covers a broad range of markets including metals, energy products, agriculture, freight, environmental emissions and treasury benchmarks.