Kartoon Studios (NASDAQ:TOON) Shares Down 9.8% – Should You Sell?

Shares of Kartoon Studios Inc. (NASDAQ:TOON) fell 9.8% on Monday . The company traded as low as $0.6062 and last traded at $0.6107. 550,238 shares were traded during trading, an increase of 62% from the average session volume of 338,661 shares. The stock had previously closed at $0.6770.

Kartoon Studios Stock Down 9.8%

The stock’s fifty day simple moving average is $0.71 and its two-hundred day simple moving average is $0.74. The firm has a market cap of $32.92 million, a PE ratio of -0.60 and a beta of 2.25.

Institutional Investors Weigh In On Kartoon Studios

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in shares of Kartoon Studios in the 2nd quarter worth about $25,000. L1 Global Manager Pty Ltd bought a new stake in Kartoon Studios during the 4th quarter valued at about $44,000. State Street Corp grew its holdings in shares of Kartoon Studios by 17.9% in the fourth quarter. State Street Corp now owns 141,260 shares of the company’s stock worth $102,000 after acquiring an additional 21,400 shares during the period. Caption Management LLC increased its position in Kartoon Studios by 157.4% during the second quarter. Caption Management LLC now owns 200,000 shares of the company’s stock valued at $149,000 after acquiring an additional 122,303 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Kartoon Studios by 11.2% during the fourth quarter. Geode Capital Management LLC now owns 472,839 shares of the company’s stock valued at $341,000 after acquiring an additional 47,456 shares during the last quarter. 8.57% of the stock is owned by institutional investors.

About Kartoon Studios

Kartoon Studios, Inc (NASDAQ: TOON) is a diversified entertainment company focused on creating, producing and distributing animated and live-action content for children and families. The company develops original intellectual property and builds consumer brands across television, digital streaming platforms and theatrical releases. Its offerings span episodic series, feature films and short-form programming, all designed to engage young audiences with positive messaging and educational themes.

The company’s flagship streaming service, the Kartoon Channel, features a wide library of original series such as Rainbow Rangers and Stan Lee’s Superhero Kindergarten, as well as licensed third-party titles.