FreeCast (Direct Listing) (NASDAQ:CAST) Stock Price Down 8.5% – Here’s Why

FreeCast (Direct Listing) (NASDAQ:CAST)’s share price dropped 8.5% during mid-day trading on Wednesday . The company traded as low as $0.5820 and last traded at $0.5915. Approximately 226,313 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 562,749 shares. The stock had previously closed at $0.6466.

Wall Street Analyst Weigh In

CAST has been the topic of a number of analyst reports. Weiss Ratings initiated coverage on shares of FreeCast (Direct Listing) in a research note on Wednesday, June 3rd. They issued a “sell (e-)” rating on the stock. Maxim Group initiated coverage on shares of FreeCast (Direct Listing) in a research note on Friday, April 24th. They issued a “buy” rating and a $6.00 price target on the stock. Finally, Wall Street Zen cut shares of FreeCast (Direct Listing) from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.00.

FreeCast (Direct Listing) Trading Down 8.5%

The stock’s 50 day moving average price is $2.21.

FreeCast (Direct Listing) (NASDAQ:CAST) last posted its earnings results on Thursday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter. The business had revenue of $0.09 million for the quarter.

FreeCast (Direct Listing) Company Profile

FreeCast, Inc is a digital media and streaming-technology company that operates a platform for aggregated video content and content discovery. The company focuses on enabling consumers to find and access free, ad-supported and subscription video across connected TVs, mobile devices and the web through a unified interface. FreeCast’s offering is positioned to address fragmentation in the streaming ecosystem by simplifying discovery and centralizing access to disparate streaming sources.

Its core activities center on content aggregation, distribution and monetization tools for both end users and business partners.