Emerald (NYSE:EEX) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Emerald Holding, Inc. (NYSE:EEX)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.03 and traded as low as $5.02. Emerald shares last traded at $5.0390, with a volume of 220,030 shares changing hands.

Analyst Ratings Changes

EEX has been the topic of a number of recent analyst reports. Rosenblatt Securities restated a “neutral” rating and issued a $5.03 price target (down from $7.70) on shares of Emerald in a research report on Tuesday, May 12th. Weiss Ratings upgraded shares of Emerald from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. Finally, Maxim Group downgraded shares of Emerald from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $5.03.

Emerald Trading Down 0.0%

The business has a 50 day moving average of $5.03 and a two-hundred day moving average of $4.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $997.26 million, a price-to-earnings ratio of -26.52 and a beta of 0.57.

Emerald (NYSE:EEX) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). Emerald had a negative return on equity of 10.81% and a negative net margin of 8.24%.The firm had revenue of $155.40 million during the quarter, compared to the consensus estimate of $155.40 million.

Hedge Funds Weigh In On Emerald

Institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Emerald in the 2nd quarter worth $5,547,000. Deutsche Bank AG bought a new stake in Emerald during the 2nd quarter valued at $71,000. Bank of New York Mellon Corp bought a new stake in Emerald during the 2nd quarter valued at $1,420,000. Sei Investments Co. raised its holdings in Emerald by 100.0% during the first quarter. Sei Investments Co. now owns 37,200 shares of the company’s stock worth $168,000 after buying an additional 18,600 shares during the last quarter. Finally, Abel Hall LLC acquired a new position in Emerald during the first quarter worth $48,000. 14.90% of the stock is owned by institutional investors and hedge funds.

About Emerald

Emerald (NYSE: EEX) is a global provider of independent data, news and analytics for commodity, financial and energy markets. The company operates digital platforms that deliver real-time and historical price assessments, market commentary, research reports and risk-management tools. Its subscriber base spans traders, asset managers, corporate hedgers and financial institutions seeking timely intelligence to support trading, risk management and investment decisions.

Serving clients across North America, Europe and Asia-Pacific, Emerald covers a broad range of markets including metals, energy products, agriculture, freight, environmental emissions and treasury benchmarks.