Salem Media Group (NASDAQ:SALM) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Shares of Salem Media Group, Inc. (NASDAQ:SALM) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.64 and traded as high as $1.06. Salem Media Group shares last traded at $1.02, with a volume of 229,706 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Salem Media Group in a research note on Wednesday. They set a “hold” rating on the stock.

Salem Media Group Trading Down 2.9%

The stock has a market cap of $27.76 million, a P/E ratio of -3.00 and a beta of -0.15. The business’s fifty day simple moving average is $0.94 and its 200 day simple moving average is $0.64.

Salem Media Group Company Profile

Salem Media Group, Inc operates as a multimedia company in the United States. It operates in three segments: Broadcast, Digital Media, and Publishing. The company owns and operates radio stations; offers programming to Christian and family-themed talk stations, music stations, and news talk stations; places advertising on Christian and talk formatted radio stations, and other commercial radio station formats; and operates Salem Podcast Network, a platform for conservative, political, news, and family-oriented podcasts.