MeetMe Shares Down 17.5% on Disappointing Earnings (MEET)
MeetMe (NASDAQ:MEET) shares traded down 17.5% during mid-day trading on Thursday following a dissappointing earnings announcement, AnalystRatings.NET reports. The company traded as low as $2.50 and last traded at $2.55, with a volume of 1,103,760 shares changing hands. The stock had previously closed at $3.09.
The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.06. The company had revenue of $9.50 million for the quarter, compared to the consensus estimate of $9.38 million.
A number of research firms have recently commented on MEET. Analysts at Northland Securities upgraded shares of MeetMe to an “outperform” rating in a research note on Wednesday, April 30th. Separately, analysts at HC Wainwright reiterated a “buy” rating on shares of MeetMe in a research note on Thursday, March 27th. Finally, analysts at TheStreet upgraded shares of MeetMe from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th.
The stock’s 50-day moving average is $3.08 and its 200-day moving average is $2.4. The company’s market cap is $92.5 million.
MeetMe, Inc (NASDAQ:MEET) is a social network for meeting new people in the United States and the public market for social discovery.
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