BuzzFeed (NASDAQ:BZFD) Stock Price Down 3.2% – Here’s What Happened

BuzzFeed, Inc. (NASDAQ:BZFD)’s share price dropped 3.2% during mid-day trading on Thursday . The company traded as low as $0.6855 and last traded at $0.7066. Approximately 24,209 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 194,046 shares. The stock had previously closed at $0.7302.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of BuzzFeed in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, BuzzFeed has a consensus rating of “Reduce” and a consensus price target of $1.00.

BuzzFeed Stock Performance

The company has a market capitalization of $26.60 million, a P/E ratio of -0.46 and a beta of 3.43. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.90. The company has a fifty day moving average price of $0.71 and a two-hundred day moving average price of $0.98.

BuzzFeed (NASDAQ:BZFD) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.75). The firm had revenue of $56.53 million for the quarter, compared to the consensus estimate of $58.38 million. BuzzFeed had a negative return on equity of 75.23% and a negative net margin of 31.16%.

Institutional Trading of BuzzFeed

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in BuzzFeed by 1,615.5% in the fourth quarter. Bank of America Corp DE now owns 14,136 shares of the company’s stock valued at $38,000 after acquiring an additional 13,312 shares during the last quarter. Founders Financial Securities LLC boosted its holdings in BuzzFeed by 29.6% in the third quarter. Founders Financial Securities LLC now owns 61,545 shares of the company’s stock valued at $105,000 after acquiring an additional 14,045 shares during the last quarter. State Street Corp boosted its holdings in BuzzFeed by 18.9% in the fourth quarter. State Street Corp now owns 96,328 shares of the company’s stock valued at $90,000 after acquiring an additional 15,300 shares during the last quarter. Raymond James Financial Inc. bought a new stake in BuzzFeed in the second quarter valued at approximately $33,000. Finally, Blair William & Co. IL bought a new stake in BuzzFeed in the third quarter valued at approximately $29,000. 37.64% of the stock is currently owned by institutional investors.

BuzzFeed Company Profile

BuzzFeed, Inc operates as a digital media and technology company specializing in news, entertainment, and social content. The company produces articles, videos and quizzes that target diverse audiences across web, mobile and social platforms. In addition to editorial content, BuzzFeed offers a suite of advertising solutions, including native advertising, branded content and programmatic display, designed to blend seamlessly with its editorial offerings and engage consumers at scale.

Founded in 2006 by Jonah Peretti and John S.