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

Shares of Salem Media Group, Inc. (NASDAQ:SALM) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.89 and traded as high as $0.94. Salem Media Group shares last traded at $0.85, with a volume of 16,042 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on shares of Salem Media Group in a research report on Wednesday, May 21st. They issued a “hold” rating on the stock.

Salem Media Group Price Performance

The firm has a market cap of $25.13 million, a PE ratio of -2.50 and a beta of -0.30. The firm has a 50-day simple moving average of $0.90 and a 200 day simple moving average of $0.89.

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.