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Millennial Media (NYSE:MM)’s share price reached a new 52-week low during trading on Wednesday , Stock Ratings reports. The stock traded as low as $2.26 and last traded at $2.29, with a volume of 586,686 shares trading hands. The stock had previously closed at $2.36.

A number of research firms have recently commented on MM. Analysts at First Analysis downgraded shares of Millennial Media from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, August 12th. Separately, analysts at Evercore Partners cut their price target on shares of Millennial Media from $5.00 to $3.50 in a research note on Tuesday, August 12th. Finally, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Millennial Media in a research note on Tuesday, August 12th. They now have a $3.50 price target on the stock, down previously from $4.00. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Millennial Media currently has an average rating of “Hold” and an average price target of $5.83.

The stock has a 50-day moving average of $3.03 and a 200-day moving average of $4.83. The company’s market cap is $237.6 million.

Millennial Media (NYSE:MM) last released its earnings data on Monday, August 11th. The company reported ($0.06) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.12) by $0.06. The company had revenue of $67.30 million for the quarter, compared to the consensus estimate of $73.20 million. During the same quarter last year, the company posted $0.02 earnings per share. Millennial Media’s revenue was up 18.1% compared to the same quarter last year. Analysts expect that Millennial Media will post $-0.48 EPS for the current fiscal year.

Millennial Media, Inc is an independent mobile advertising platform company. The Company’s technology, tools and services help developers maximize their advertising revenue, acquire users for their applications and gain insight about their users.

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