ACCESS Newswire (NYSEAMERICAN:ACCS) Stock Price Up 5.5% – Here’s What Happened

Shares of ACCESS Newswire Inc. (NYSEAMERICAN:ACCS) shot up 5.5% during trading on Wednesday . The company traded as high as $7.37 and last traded at $7.30. 23,415 shares were traded during mid-day trading, an increase of 20% from the average session volume of 19,508 shares. The stock had previously closed at $6.92.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital reduced their price target on shares of ACCESS Newswire from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, ACCESS Newswire currently has an average rating of “Buy” and an average target price of $12.00.

ACCESS Newswire Trading Up 5.5%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $28.32 million, a price-to-earnings ratio of -16.59 and a beta of 0.41. The business has a fifty day simple moving average of $6.64 and a 200-day simple moving average of $7.65.

ACCESS Newswire (NYSEAMERICAN:ACCS) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.11 earnings per share for the quarter. ACCESS Newswire had a positive return on equity of 5.57% and a negative net margin of 7.60%.The company had revenue of $5.33 million for the quarter. As a group, equities analysts forecast that ACCESS Newswire Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ACCESS Newswire news, CEO Brian R. Balbirnie bought 10,000 shares of ACCESS Newswire stock in a transaction on Wednesday, May 27th. The shares were purchased at an average cost of $6.46 per share, with a total value of $64,600.00. Following the acquisition, the chief executive officer directly owned 632,917 shares of the company’s stock, valued at $4,088,643.82. The trade was a 1.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have purchased 13,750 shares of company stock worth $89,575. 25.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On ACCESS Newswire

Several large investors have recently modified their holdings of ACCS. DRW Securities LLC acquired a new position in shares of ACCESS Newswire during the fourth quarter worth $117,000. Nano Cap New Millennium Growth Fund L P acquired a new stake in ACCESS Newswire in the fourth quarter valued at $140,000. Bridgeway Capital Management LLC bought a new position in ACCESS Newswire during the 2nd quarter worth $163,000. Geode Capital Management LLC bought a new position in ACCESS Newswire during the 2nd quarter worth $362,000. Finally, Punch & Associates Investment Management Inc. raised its position in ACCESS Newswire by 3.0% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 142,410 shares of the company’s stock worth $1,324,000 after purchasing an additional 4,150 shares during the last quarter. Institutional investors own 50.02% of the company’s stock.

About ACCESS Newswire

Issuer Direct Corporation operates as a communications and compliance company, provides solutions for both public relations and investor relations professionals in the United States and internationally. The company provides press release distribution, media databases, media monitoring, and newsrooms through media advantage platform; ACCESSWIRE, a news dissemination and media outreach service; and Webcaster Platform, a cloud-based webcast, webinar, and virtual meeting platform that delivers live and on-demand streaming of events to audiences of various sizes, as well as allows customers to create, produce, and deliver events.