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

Shares of Gray Media Inc. (NYSE:GTN.A) gapped down prior to trading on Wednesday . The stock had previously closed at $8.20, but opened at $7.41. Gray Media shares last traded at $8.15, with a volume of 1,059 shares changing hands.

Gray Media Stock Up 11.4%

The firm has a market cap of $801.37 million, a PE ratio of -5.10 and a beta of 0.51. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 2.72. The firm has a 50 day moving average price of $9.34 and a 200-day moving average price of $10.79.

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

Gray Media Company Profile

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.