Angi (NASDAQ:ANGI) Trading Down 6.5% – Here’s Why

Angi Inc. (NASDAQ:ANGI)’s share price dropped 6.5% during mid-day trading on Monday . The company traded as low as $13.11 and last traded at $13.1350. Approximately 627,857 shares were traded during trading, a decline of 25% from the average daily volume of 836,539 shares. The stock had previously closed at $14.05.

Analysts Set New Price Targets

Several research analysts have issued reports on ANGI shares. Zacks Research upgraded shares of Angi from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. KeyCorp restated an “overweight” rating and set a $17.00 price target on shares of Angi in a research report on Thursday. Weiss Ratings restated a “sell (d)” rating on shares of Angi in a research report on Monday, December 29th. Royal Bank Of Canada reduced their price target on Angi from $20.00 to $18.00 and set a “sector perform” rating on the stock in a report on Thursday, November 6th. Finally, UBS Group decreased their price objective on shares of Angi from $22.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Angi has an average rating of “Hold” and a consensus price target of $19.75.

Angi Trading Down 6.3%

The firm has a market cap of $567.85 million, a price-to-earnings ratio of 17.32 and a beta of 1.71. The business has a 50 day moving average of $12.26 and a 200 day moving average of $14.90. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.50.

Angi (NASDAQ:ANGI) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.10). The firm had revenue of $265.63 million during the quarter, compared to analysts’ expectations of $268.96 million. Angi had a return on equity of 3.44% and a net margin of 3.34%.The business’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, research analysts forecast that Angi Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Angi stock. Poehling Capital Management INC. acquired a new position in shares of Angi Inc. (NASDAQ:ANGI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,146 shares of the technology company’s stock, valued at approximately $231,000. Hedge funds and other institutional investors own 12.84% of the company’s stock.

Angi Company Profile

Angi (NASDAQ: ANGI) operates a digital marketplace that connects homeowners and renters with service professionals for home improvement, maintenance and repair projects. Through its flagship platform, Angi provides user-friendly tools that allow consumers to research service providers, compare prices, read verified reviews and book appointments. The company’s services span a wide range of home needs, including plumbing, electrical work, landscaping, painting, cleaning, remodeling and general handyman tasks.

Originally founded in 1995 as Angie’s List, the company built its reputation on a subscription-based model and a comprehensive database of customer reviews.