Salem Media Group (NASDAQ:SALM) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Salem Media Group, Inc. (NASDAQ:SALM)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.30 and traded as high as $0.75. Salem Media Group shares last traded at $0.70, with a volume of 53,516 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Salem Media Group in a research note on Wednesday. They issued a “hold” rating for the company.

Salem Media Group Stock Performance

The business’s 50 day moving average is $0.39 and its 200 day moving average is $0.30.

Salem Media Group (NASDAQ:SALM) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.24) earnings per share (EPS) for the quarter. Salem Media Group had a negative return on equity of 5.79% and a negative net margin of 3.80%. The business had revenue of $58.72 million for the quarter.

About Salem Media Group

Salem Media Group, Inc operates as a multimedia company in the United States. It operates in three segments: Broadcast, Digital Media, and Publishing. The company owns and operates radio stations; offers programming to Christian and family-themed talk stations, music stations, and news talk stations; places advertising on Christian and talk formatted radio stations, and other commercial radio station formats; and operates Salem Podcast Network, a platform for conservative, political, news, and family-oriented podcasts.