Giftify (NASDAQ:GIFT) Shares Down 1.8% – Here’s What Happened

Giftify, Inc. (NASDAQ:GIFT)’s share price was down 1.8% during mid-day trading on Thursday . The stock traded as low as $1.10 and last traded at $1.10. Approximately 3,215 shares changed hands during trading, a decline of 90% from the average daily volume of 32,756 shares. The stock had previously closed at $1.12.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Giftify in a report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.00.

Giftify Price Performance

The company has a market capitalization of $34.06 million, a P/E ratio of -2.62 and a beta of -2.03. The stock’s fifty day simple moving average is $1.09 and its 200-day simple moving average is $1.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.82 and a quick ratio of 0.50.

Giftify (NASDAQ:GIFT) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Giftify had a negative return on equity of 56.95% and a negative net margin of 14.02%.The business had revenue of $18.78 million during the quarter, compared to the consensus estimate of $23.40 million.

Institutional Investors Weigh In On Giftify

Several hedge funds and other institutional investors have recently modified their holdings of GIFT. Blair William & Co. IL increased its position in Giftify by 150.0% during the second quarter. Blair William & Co. IL now owns 25,000 shares of the company’s stock worth $38,000 after acquiring an additional 15,000 shares during the period. Susquehanna International Group LLP grew its position in Giftify by 62.1% in the 3rd quarter. Susquehanna International Group LLP now owns 45,007 shares of the company’s stock worth $48,000 after purchasing an additional 17,234 shares during the last quarter. Finally, Henrickson Nauta Wealth Advisors Inc. bought a new position in shares of Giftify during the 3rd quarter worth about $160,000.

About Giftify

RDE, Inc owns and operates a restaurant deal space in the United States. The company operates Restaurant.com that connects digital consumers, businesses, and communities with dining and merchant deal options at approximately 182,500 restaurants and retailers to approximately 7.8 million customers. It sells discount certificates for restaurants, as well as complementary entertainment and travel offerings, and consumer products on behalf of third-party merchants.