Angi (NASDAQ:ANGI) Hits New 52-Week Low Following Analyst Downgrade

Angi Inc. (NASDAQ:ANGI)’s stock price reached a new 52-week low during mid-day trading on Thursday after JMP Securities lowered their price target on the stock from $3.25 to $3.00. JMP Securities currently has a market outperform rating on the stock. Angi traded as low as $1.79 and last traded at $1.79, with a volume of 83058 shares trading hands. The stock had previously closed at $1.85.

ANGI has been the subject of several other reports. Benchmark lowered their price objective on Angi from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday. The Goldman Sachs Group lowered Angi from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $3.25 to $2.50 in a research note on Wednesday. Citigroup lowered Angi from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $3.25 to $2.00 in a research note on Wednesday. Finally, UBS Group raised Angi to a “hold” rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Angi has an average rating of “Moderate Buy” and an average price target of $3.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its holdings in shares of Angi by 44.6% in the 1st quarter. BNP Paribas Financial Markets now owns 24,807 shares of the technology company’s stock valued at $65,000 after buying an additional 7,649 shares during the period. Headlands Technologies LLC acquired a new position in Angi in the 2nd quarter worth about $26,000. Barclays PLC raised its holdings in Angi by 1,255.5% in the 3rd quarter. Barclays PLC now owns 16,401 shares of the technology company’s stock worth $42,000 after purchasing an additional 15,191 shares during the period. Quadrature Capital Ltd raised its holdings in Angi by 21.4% in the 1st quarter. Quadrature Capital Ltd now owns 96,857 shares of the technology company’s stock worth $256,000 after purchasing an additional 17,102 shares during the period. Finally, Centiva Capital LP acquired a new position in Angi in the 3rd quarter worth about $46,000. 12.84% of the stock is currently owned by hedge funds and other institutional investors.

Angi Trading Down 1.7 %

The company has a 50 day simple moving average of $2.48 and a 200 day simple moving average of $2.32. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.98 and a current ratio of 2.05. The company has a market capitalization of $857.71 million, a PE ratio of 24.57 and a beta of 1.95.

Angi (NASDAQ:ANGI) last posted its quarterly earnings data on Monday, November 11th. The technology company reported $0.07 EPS for the quarter. Angi had a return on equity of 3.79% and a net margin of 2.61%. The company had revenue of $296.72 million during the quarter, compared to analyst estimates of $295.90 million. During the same period in the previous year, the business earned ($0.01) EPS.

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.