SRAX, Inc. (NASDAQ:SRAX) saw unusually large options trading on Tuesday. Stock traders acquired 3,196 call options on the company. This represents an increase of approximately 560% compared to the average daily volume of 484 call options.
Institutional investors and hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new position in shares of SRAX during the third quarter valued at approximately $35,000. Sage Mountain Advisors LLC purchased a new stake in SRAX in the fourth quarter worth $36,000. Finally, Renaissance Technologies LLC purchased a new stake in SRAX in the fourth quarter worth $270,000. 3.69% of the stock is currently owned by hedge funds and other institutional investors.
SRAX has been the subject of a number of recent research reports. B. Riley boosted their target price on SRAX from $4.50 to $7.50 and gave the stock a “buy” rating in a research report on Friday, February 12th. LADENBURG THALM/SH SH initiated coverage on SRAX in a research report on Monday, February 8th. They issued a “buy” rating and a $7.00 price objective for the company. Finally, Zacks Investment Research downgraded SRAX from a “buy” rating to a “hold” rating in a research report on Friday.
SRAX Company Profile
SRAX, Inc, a digital marketing and data technology company, provides tools to reach consumers with marketing and advertising communication in the United States. The company's machine learning technology analyzes marketing data to identify core consumers and their characteristics across marketing channels.
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