BuzzFeed (NASDAQ:BZFD) Shares Down 3% – Here’s What Happened

BuzzFeed, Inc. (NASDAQ:BZFD) shares dropped 3% on Monday . The company traded as low as $0.7595 and last traded at $0.7860. Approximately 375,878 shares traded hands during mid-day trading, an increase of 89% from the average daily volume of 198,365 shares. The stock had previously closed at $0.81.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BZFD shares. Weiss Ratings reissued a “sell (d)” rating on shares of BuzzFeed in a report on Monday, December 29th. Craig Hallum cut BuzzFeed from a “buy” rating to a “hold” rating and set a $1.00 price objective for the company. in a research report on Friday, November 21st. Finally, Wall Street Zen downgraded BuzzFeed from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, BuzzFeed has a consensus rating of “Reduce” and a consensus target price of $1.00.

BuzzFeed Trading Down 3.0%

The stock has a market capitalization of $29.25 million, a PE ratio of -78,600.00 and a beta of 3.42. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average is $0.90 and its two-hundred day moving average is $1.33.

Institutional Trading of BuzzFeed

A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in BuzzFeed by 1,615.5% during the 4th quarter. Bank of America Corp DE now owns 14,136 shares of the company’s stock worth $38,000 after buying an additional 13,312 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of BuzzFeed in the second quarter valued at approximately $33,000. Blair William & Co. IL purchased a new position in shares of BuzzFeed during the third quarter worth approximately $29,000. XTX Topco Ltd purchased a new position in shares of BuzzFeed during the second quarter worth approximately $37,000. Finally, Panagora Asset Management Inc. acquired a new position in shares of BuzzFeed in the 2nd quarter valued at $77,000. 37.64% of the stock is owned by institutional investors and hedge funds.

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.