ACCESS Newswire (NYSEAMERICAN:ACCS) Trading 5% Higher – Still a Buy?

ACCESS Newswire Inc. (NYSEAMERICAN:ACCS) shares traded up 5% on Monday . The company traded as high as $6.15 and last traded at $6.09. 17,172 shares were traded during trading, an increase of 3% from the average daily volume of 16,642 shares. The stock had previously closed at $5.80.

Analyst Ratings Changes

Separately, Lake Street Capital reduced their price objective on shares of ACCESS Newswire from $14.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, ACCESS Newswire presently has a consensus rating of “Buy” and a consensus target price of $12.00.

ACCESS Newswire Stock Up 1.2%

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $7.01 and a two-hundred day simple moving average of $7.85. The stock has a market capitalization of $26.00 million, a P/E ratio of -15.23 and a beta of 0.42.

ACCESS Newswire (NYSEAMERICAN:ACCS) last issued its earnings results on Tuesday, May 12th. The company reported $0.11 EPS for the quarter. ACCESS Newswire had a negative net margin of 7.60% and a positive return on equity of 5.57%. The company had revenue of $5.33 million for the quarter. Equities research analysts forecast that ACCESS Newswire Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Brian R. Balbirnie acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were purchased at an average cost of $6.46 per share, with a total value of $64,600.00. Following the completion of the purchase, the chief executive officer owned 632,917 shares of the company’s stock, valued at $4,088,643.82. This represents a 1.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 13,750 shares of company stock valued at $89,575 in the last quarter. 25.03% of the stock is owned by insiders.

Institutional Trading of ACCESS Newswire

Several hedge funds have recently modified their holdings of ACCS. DRW Securities LLC acquired a new stake in shares of ACCESS Newswire in the fourth quarter valued at approximately $117,000. Nano Cap New Millennium Growth Fund L P acquired a new position in ACCESS Newswire during the 4th quarter worth $140,000. Bridgeway Capital Management LLC bought a new position in ACCESS Newswire in the 2nd quarter valued at $163,000. Mink Brook Asset Management LLC bought a new position in ACCESS Newswire in the 3rd quarter valued at $219,000. Finally, Geode Capital Management LLC acquired a new stake in shares of ACCESS Newswire in the 2nd quarter valued at $362,000. 50.02% of the stock is owned by institutional investors.

About ACCESS Newswire

Issuer Direct Corporation operates as a communications and compliance company, provides solutions for both public relations and investor relations professionals in the United States and internationally. The company provides press release distribution, media databases, media monitoring, and newsrooms through media advantage platform; ACCESSWIRE, a news dissemination and media outreach service; and Webcaster Platform, a cloud-based webcast, webinar, and virtual meeting platform that delivers live and on-demand streaming of events to audiences of various sizes, as well as allows customers to create, produce, and deliver events.