Angi (NASDAQ:ANGI) Stock Price Breaks Above 200-Day Moving Average – Here’s Why

by · The Markets Daily

Angi Inc. (NASDAQ:ANGI – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $5.78 and traded as high as $6.56. Angi shares last traded at $6.46, with a volume of 1,434,178 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group set a $14.00 price target on shares of Angi in a report on Thursday, September 24th. Weiss Ratings restated a “sell (d)” rating on shares of Angi in a report on Monday, September 21st. Citizens Jmp reaffirmed a “market perform” rating on shares of Angi in a research report on Monday, July 13th. Truist Financial set a $10.00 target price on shares of Angi and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. began coverage on shares of Angi in a research note on Friday, September 11th. They issued an “underweight” rating on the stock. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.57.

Read Our Latest Stock Analysis on ANGI

Angi Stock Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The company has a 50 day simple moving average of $5.25 and a 200-day simple moving average of $5.78. The stock has a market capitalization of $250.79 million, a P/E ratio of -1.12 and a beta of 1.71.

Angi (NASDAQ:ANGI – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The technology company reported ($5.70) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($5.83). Angi had a positive return on equity of 1.52% and a negative net margin of 22.35%. The firm had revenue of $248.00 million for the quarter, compared to the consensus estimate of $253.43 million. During the same quarter in the previous year, the company posted $0.23 EPS. The firm’s revenue was down 10.9% compared to the same quarter last year. On average, equities analysts forecast that Angi Inc. will post 0.16 EPS for the current year.

Hedge Funds Weigh In On Angi

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of Angi by 1,047.4% in the third quarter. GAMMA Investing LLC now owns 4,475 shares of the technology company’s stock worth $26,000 after purchasing an additional 4,085 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Angi by 81.4% during the 3rd quarter. Versant Capital Management Inc now owns 5,810 shares of the technology company’s stock valued at $33,000 after buying an additional 2,608 shares in the last quarter. Engineers Gate Manager LP bought a new position in Angi in the 2nd quarter worth approximately $399,000. Squarepoint Ops LLC bought a new position in Angi in the 2nd quarter worth approximately $162,000. Finally, Corient Private Wealth LP purchased a new position in Angi in the 2nd quarter valued at approximately $140,000. Institutional investors own 12.84% of the company’s stock.

About Angi

(Get Free Report)

Angi Inc (NASDAQ: ANGI) operates a digital marketplace that connects homeowners with professionals who provide home improvement, maintenance and repair services. Through its platform, consumers can search for service providers, request project estimates, schedule appointments and manage home-related projects.

The company serves a broad range of categories, including remodeling, roofing, plumbing, electrical work, landscaping, cleaning and other residential services. Angi generates business by helping service professionals market their offerings and connect with potential customers, while providing homeowners with tools and information to evaluate and arrange services.

The company traces its history to Angie’s List, which was founded in 1995.

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