Gray Media (NYSE:GTN.A) Shares Down 10.2% – Here’s Why

Gray Media Inc. (NYSE:GTN.A) shares fell 10.2% during trading on Thursday . The stock traded as low as $7.20 and last traded at $7.20. 2,928 shares were traded during mid-day trading, a decline of 76% from the average session volume of 12,079 shares. The stock had previously closed at $8.02.

Gray Media Stock Performance

The company has a 50-day moving average price of $10.58 and a two-hundred day moving average price of $10.84. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.72. The company has a market capitalization of $739.73 million, a PE ratio of -4.71 and a beta of 0.51.

Gray Media (NYSE:GTN.A) last posted its earnings results on Thursday, May 7th. The company reported ($0.34) earnings per share for the quarter. Gray Media had a negative net margin of 3.12% and a negative return on equity of 3.07%.

About Gray Media

Gray Media, doing business as Gray Television, Inc, operates an extensive network of local television stations and digital platforms across the United States. The company’s broadcast portfolio offers a mix of network-affiliated programming—ranging from national news and entertainment from ABC, CBS, NBC and Fox—to locally produced content including news, sports and weather coverage. In addition to traditional broadcast, Gray Media provides digital advertising, streaming and over-the-top solutions through its websites, mobile apps and branded digital marketplaces.

Established in 1946 as Gray Communications Systems, the company went public in 2006 and adopted the Gray Television name in 2010.