Gen Digital (NASDAQ:GEN) Shares Up 3% – Here’s Why

Gen Digital Inc. (NASDAQ:GEN) was up 3% during mid-day trading on Monday . The stock traded as high as $28.08 and last traded at $27.85. Approximately 3,194,030 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 3,633,850 shares. The stock had previously closed at $27.03.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GEN shares. UBS Group raised shares of Gen Digital to a “strong-buy” rating in a report on Wednesday, December 4th. Morgan Stanley assumed coverage on shares of Gen Digital in a research report on Tuesday. They issued an “equal weight” rating for the company.

Gen Digital Trading Up 0.4 %

The company has a debt-to-equity ratio of 3.29, a current ratio of 0.35 and a quick ratio of 0.35. The business’s 50-day moving average price is $27.42 and its two-hundred day moving average price is $27.91. The firm has a market cap of $17.19 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. Equities analysts expect that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Institutional Investors Weigh In On Gen Digital

Several large investors have recently made changes to their positions in GEN. Brighton Jones LLC increased its position in shares of Gen Digital by 5.4% in the fourth quarter. Brighton Jones LLC now owns 25,212 shares of the company’s stock worth $690,000 after acquiring an additional 1,299 shares in the last quarter. QSM Asset Management Ltd acquired a new stake in shares of Gen Digital in the fourth quarter worth $5,373,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Gen Digital in the fourth quarter worth $14,367,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Gen Digital Company Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.