Gray Media (NYSE:GTN.A) Shares Down 6.9% – Here’s What Happened

Gray Media Inc. (NYSE:GTN.A) shares were down 6.9% on Tuesday . The stock traded as low as $9.55 and last traded at $9.80. Approximately 8,552 shares traded hands during trading, a decline of 29% from the average daily volume of 11,980 shares. The stock had previously closed at $10.53.

Gray Media Stock Down 10.5%

The firm has a market cap of $967.81 million, a PE ratio of -6.16 and a beta of 0.63. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.20 and a current ratio of 1.20. The company’s 50-day simple moving average is $11.25 and its two-hundred day simple moving average is $10.90.

Gray Media (NYSE:GTN.A) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.34) earnings per share for the quarter. Gray Media had a negative net margin of 3.12% and a negative return on equity of 3.07%.

About Gray Media

Gray Media, doing business as Gray Television, Inc, operates an extensive network of local television stations and digital platforms across the United States. The company’s broadcast portfolio offers a mix of network-affiliated programming—ranging from national news and entertainment from ABC, CBS, NBC and Fox—to locally produced content including news, sports and weather coverage. In addition to traditional broadcast, Gray Media provides digital advertising, streaming and over-the-top solutions through its websites, mobile apps and branded digital marketplaces.

Established in 1946 as Gray Communications Systems, the company went public in 2006 and adopted the Gray Television name in 2010.