Investors Buy Large Volume of Remark Call Options (NASDAQ:MARK)

Remark Holdings, Inc. (NASDAQ:MARK) was the target of unusually large options trading on Tuesday. Stock investors purchased 5,980 call options on the stock. This is an increase of approximately 609% compared to the average daily volume of 844 call options.

Shares of MARK stock opened at $0.93 on Thursday. Remark has a fifty-two week low of $0.75 and a fifty-two week high of $4.72. The stock has a 50 day moving average price of $1.18 and a two-hundred day moving average price of $1.57. The company has a market capitalization of $94.01 million, a P/E ratio of -10.35 and a beta of 2.97.

Remark (NASDAQ:MARK) last announced its quarterly earnings data on Sunday, August 22nd. The information services provider reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. The company had revenue of $4.02 million during the quarter, compared to the consensus estimate of $5.78 million.

Separately, Zacks Investment Research raised Remark from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research note on Thursday, August 26th.

Hedge funds have recently made changes to their positions in the business. The PNC Financial Services Group Inc. bought a new stake in Remark in the first quarter valued at approximately $31,000. Cadent Capital Advisors LLC purchased a new stake in shares of Remark in the second quarter worth $47,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Remark in the first quarter worth $82,000. Occudo Quantitative Strategies LP purchased a new stake in shares of Remark during the first quarter valued at $127,000. Finally, Citigroup Inc. purchased a new stake in shares of Remark during the first quarter valued at $151,000. Hedge funds and other institutional investors own 18.28% of the company’s stock.

Remark Company Profile

Remark Holdings, Inc, is a technology-focused company that develops and deploys artificial intelligence (AI) products and AI-based solutions for businesses in various industries. It operates through its Technology and Data Intelligence segment, which provides products and services based on collected and processed data by using KanKan, a data intelligence platform that offers AI-based vision products, computing devices, and software-as-a-service products for the financial, retail, entertainment, education, and workplace and public safety industries.

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