Angi (NASDAQ:ANGI) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Angi Inc. (NASDAQ:ANGI)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.30 and traded as high as $2.55. Angi shares last traded at $2.49, with a volume of 220,731 shares trading hands.

Wall Street Analyst Weigh In

Separately, JMP Securities started coverage on Angi in a research report on Tuesday, July 9th. They set an “outperform” rating and a $3.25 price objective for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Angi currently has a consensus rating of “Moderate Buy” and an average price target of $3.78.

Angi Price Performance

The firm has a market capitalization of $1.21 billion, a PE ratio of -48.20 and a beta of 1.95. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average price of $2.59 and a two-hundred day moving average price of $2.30.

Angi (NASDAQ:ANGI) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $315.13 million for the quarter, compared to analyst estimates of $305.06 million. Angi had a negative return on equity of 0.07% and a negative net margin of 0.68%. During the same quarter in the previous year, the company posted ($0.03) earnings per share.

Insider Activity

In related news, CTO Kulesh Shanmugasundaram sold 11,748 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $2.32, for a total transaction of $27,255.36. Following the completion of the sale, the chief technology officer now directly owns 125,262 shares of the company’s stock, valued at $290,607.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Inspire Investing LLC purchased a new stake in shares of Angi during the 1st quarter worth $1,234,000. GSA Capital Partners LLP lifted its stake in shares of Angi by 469.5% in the first quarter. GSA Capital Partners LLP now owns 511,684 shares of the technology company’s stock valued at $1,341,000 after purchasing an additional 421,841 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Angi during the second quarter worth about $183,000. Vanguard Group Inc. grew its position in Angi by 1.4% during the first quarter. Vanguard Group Inc. now owns 6,722,247 shares of the technology company’s stock worth $17,612,000 after buying an additional 95,514 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Angi by 36.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,855,694 shares of the technology company’s stock valued at $3,562,000 after acquiring an additional 494,739 shares during the period. Institutional investors and hedge funds own 12.84% of the company’s stock.

Angi Company Profile

Angi Inc connects home service professionals with consumers in the United States and internationally. The company operates through three segments: Ads and Leads, Services, and International. It provides consumers with tools and resources to help them find local, pre-screened and customer-rated service professionals, matches consumers with independently established home services professionals.