SRAX (NASDAQ:SRAX) Share Price Passes Below 50-Day Moving Average of $1.86

SRAX, Inc. (NASDAQ:SRAX – Get Rating) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.86 and traded as low as $0.58. SRAX shares last traded at $0.60, with a volume of 2,825,001 shares.

Analysts Set New Price Targets

Separately, B. Riley cut their price target on shares of SRAX from $7.50 to $4.50 and set a “buy” rating for the company in a research note on Friday, January 13th.

SRAX Price Performance

The business’s 50 day moving average price is $1.86 and its 200-day moving average price is $1.82. The company has a market cap of $15.79 million, a P/E ratio of -0.50 and a beta of 1.63.

SRAX (NASDAQ:SRAX – Get Rating) last posted its earnings results on Tuesday, January 3rd. The business services provider reported $0.13 earnings per share (EPS) for the quarter. The firm had revenue of $7.50 million during the quarter. As a group, research analysts forecast that SRAX, Inc. will post 0.16 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SRAX. Advisor Group Holdings Inc. raised its stake in shares of SRAX by 2,500.0% in the first quarter. Advisor Group Holdings Inc. now owns 5,200 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 5,000 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of SRAX in the second quarter valued at approximately $36,000. Virtu Financial LLC acquired a new stake in shares of SRAX in the second quarter valued at approximately $36,000. Anson Funds Management LP acquired a new stake in shares of SRAX in the third quarter valued at approximately $56,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of SRAX in the third quarter valued at approximately $94,000. Institutional investors own 19.89% of the company’s stock.

About SRAX

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SRAX, Inc is a financial technology company, which unlocks data and insights for publicly traded companies. It provides tools which enhance communications between public companies and their shareholders and investors. The company operates through the Sequire and LD Micro business units. Sequire is a Software-as-a-Service (SaaS) based platform, which allows issuers to track their shareholders’ behaviors and trends and use data-driven insights to engage with shareholders across marketing channels.