Phoenix New Media Limited (NYSE:FENG – Get Free Report) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 8,661 shares, a decline of 19.9% from the March 15th total of 10,819 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 12,653 shares, the short-interest ratio is presently 0.7 days.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Phoenix New Media in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Phoenix New Media currently has an average rating of “Sell”.
Read Our Latest Stock Report on Phoenix New Media
Phoenix New Media Stock Performance
Phoenix New Media Company Profile
Phoenix New Media Inc is a leading Chinese new media company that provides online news and information services through its flagship portal, ifeng.com, as well as a suite of mobile applications and video platforms. The company offers a wide array of multimedia content, including live streaming news, on-demand video, audio programming and article publishing across topics such as finance, technology, entertainment, lifestyle and sports. In addition to content distribution, Phoenix New Media generates revenue through digital advertising and subscription services.
Formed as a spin-off of its parent Nanfang Media Group’s overseas broadcasting business, Phoenix New Media was established to capitalize on the rapid growth of Internet and mobile consumption in China.
Further Reading
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