ACCESS Newswire (NYSEAMERICAN:ACCS) Trading 5.5% Higher – Time to Buy?

ACCESS Newswire Inc. (NYSEAMERICAN:ACCS)’s share price traded up 5.5% on Wednesday . The company traded as high as $7.37 and last traded at $7.30. Approximately 23,415 shares changed hands during trading, an increase of 20% from the average daily volume of 19,508 shares. The stock had previously closed at $6.92.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital dropped their price objective on shares of ACCESS Newswire from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. One analyst has rated the stock with a Buy rating, According to MarketBeat, ACCESS Newswire presently has an average rating of “Buy” and an average target price of $12.00.

ACCESS Newswire Stock Down 6.9%

The firm has a market capitalization of $25.06 million, a price-to-earnings ratio of -14.68 and a beta of 0.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a fifty day moving average of $6.61 and a two-hundred day moving average of $7.64.

ACCESS Newswire (NYSEAMERICAN:ACCS) last announced its earnings results on Tuesday, May 12th. The company reported $0.11 EPS for the quarter. The firm had revenue of $5.33 million for the quarter. ACCESS Newswire had a positive return on equity of 5.57% and a negative net margin of 7.60%. Sell-side analysts anticipate that ACCESS Newswire Inc. will post 0.32 earnings per share for the current year.

Insider Activity

In other news, CEO Brian R. Balbirnie purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average price of $6.46 per share, for a total transaction of $64,600.00. Following the transaction, the chief executive officer owned 632,917 shares of the company’s stock, valued at approximately $4,088,643.82. This trade represents a 1.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have purchased 13,750 shares of company stock valued at $89,575. 25.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ACCESS Newswire

Several large investors have recently modified their holdings of ACCS. Topline Capital Management LLC acquired a new position in ACCESS Newswire in the second quarter valued at $8,724,000. Punch & Associates Investment Management Inc. grew its holdings in ACCESS Newswire by 7.0% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 152,410 shares of the company’s stock worth $1,350,000 after acquiring an additional 10,000 shares during the period. Geode Capital Management LLC bought a new position in shares of ACCESS Newswire in the 2nd quarter worth about $362,000. Nano Cap New Millennium Growth Fund L P bought a new position in shares of ACCESS Newswire in the 4th quarter worth about $140,000. Finally, Bridgeway Capital Management LLC acquired a new position in shares of ACCESS Newswire in the 2nd quarter valued at about $163,000. 50.02% of the stock is currently owned by institutional investors and hedge funds.

ACCESS Newswire Company Profile

Issuer Direct Corporation operates as a communications and compliance company, provides solutions for both public relations and investor relations professionals in the United States and internationally. The company provides press release distribution, media databases, media monitoring, and newsrooms through media advantage platform; ACCESSWIRE, a news dissemination and media outreach service; and Webcaster Platform, a cloud-based webcast, webinar, and virtual meeting platform that delivers live and on-demand streaming of events to audiences of various sizes, as well as allows customers to create, produce, and deliver events.