Loop Media, Inc. (NYSEAMERICAN:LPTV) Short Interest Update

Loop Media, Inc. (NYSEAMERICAN:LPTV) was the target of a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 1,740,000 shares, a decline of 15.1% from the June 15th total of 2,050,000 shares. Based on an average trading volume of 3,230,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 4.5% of the shares of the company are short sold.

Loop Media Trading Up 10.8 %

LPTV traded up $0.02 on Tuesday, hitting $0.16. 5,482,988 shares of the company were exchanged, compared to its average volume of 1,820,133. Loop Media has a fifty-two week low of $0.10 and a fifty-two week high of $2.94. The firm has a market capitalization of $12.37 million, a P/E ratio of -0.33 and a beta of 1.44.

Loop Media (NYSEAMERICAN:LPTV) last issued its earnings results on Friday, May 3rd. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The business had revenue of $4.00 million for the quarter, compared to the consensus estimate of $6.42 million. Analysts predict that Loop Media will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Loop Media stock. Thoroughbred Financial Services LLC raised its holdings in Loop Media, Inc. (NYSEAMERICAN:LPTV) by 40.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,000 shares of the company’s stock after purchasing an additional 20,000 shares during the period. Thoroughbred Financial Services LLC owned 0.12% of Loop Media worth $70,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 37.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LPTV. Roth Mkm dropped their price target on shares of Loop Media from $2.00 to $0.50 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. B. Riley dropped their price target on shares of Loop Media from $2.50 to $1.50 and set a “buy” rating on the stock in a research note on Wednesday, March 20th.

About Loop Media

Loop Media, Inc operates as a multichannel digital video platform media company in the United States. The company offers hand-curated music video content licensed from major and independent record labels, including Universal Music Group, Sony Music Entertainment, and Warner Music Group; and non-music video content, which is licensed or acquired from third parties, such as action sports clips, drone and atmospheric footage, trivia, news headlines, lifestyle channels, and kid-friendly videos, as well as movie, television and video game trailers, and other content.