Intelligent Protection Management (NASDAQ:IPM) Stock Price Down 1.4% – Here’s What Happened

Shares of Intelligent Protection Management Corp. (NASDAQ:IPM) dropped 1.4% during mid-day trading on Thursday . The stock traded as low as $1.7750 and last traded at $1.7750. 5,151 shares traded hands during trading, a decline of 73% from the average session volume of 18,903 shares. The stock had previously closed at $1.80.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Intelligent Protection Management in a research note on Tuesday, July 7th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Intelligent Protection Management Price Performance

The company has a fifty day moving average of $1.82 and a 200 day moving average of $1.77. The firm has a market capitalization of $16.05 million, a P/E ratio of -6.83 and a beta of 0.46.

Intelligent Protection Management (NASDAQ:IPM) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $6.35 million for the quarter. Intelligent Protection Management had a negative return on equity of 18.44% and a negative net margin of 14.01%.

Hedge Funds Weigh In On Intelligent Protection Management

A number of hedge funds have recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in Intelligent Protection Management in the fourth quarter valued at $28,000. Virtu Financial LLC acquired a new stake in Intelligent Protection Management during the 3rd quarter worth about $43,000. Finally, Renaissance Technologies LLC raised its position in shares of Intelligent Protection Management by 50.1% in the 4th quarter. Renaissance Technologies LLC now owns 55,100 shares of the company’s stock worth $95,000 after acquiring an additional 18,400 shares in the last quarter. Institutional investors own 3.88% of the company’s stock.

About Intelligent Protection Management

Intelligent Protection Management Corp. engages in the development of communications software to enhance security and privacy solutions for multimedia communication and data transmission. Its solutions include blockchain strategy consulting, blockchain implementation, white label video solutions, and technology licensing. The firm’s product portfolio includes Paltalk and Camfrog. The company was founded by Clifford Lerner and Darrell Lerner on July 19, 2005 and is headquartered in Jericho, NY.