ReachLocal Inc. (NASDAQ:RLOC) shares were down 0% during trading on Friday . The stock traded as low as $4.56 and last traded at $4.57, with a volume of 594,799 shares trading hands. The stock had previously closed at $4.57.

Separately, Piper Jaffray Cos. reissued a “hold” rating and issued a $2.60 price objective on shares of ReachLocal in a research note on Thursday, June 2nd.

The stock’s market capitalization is $137.16 million. The stock has a 50-day moving average price of $2.37 and a 200 day moving average price of $1.91.

ReachLocal (NASDAQ:RLOC) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.09. During the same period in the prior year, the company posted ($0.35) earnings per share. The firm had revenue of $78.70 million for the quarter, compared to analyst estimates of $77.70 million. The business’s revenue was down 21.0% on a year-over-year basis. Analysts forecast that ReachLocal Inc. will post ($0.51) EPS for the current fiscal year.

An institutional investor recently raised its position in ReachLocal stock. Morgan Stanley boosted its stake in shares of ReachLocal Inc. (NASDAQ:RLOC) by 1.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,315,810 shares of the company’s stock after buying an additional 31,539 shares during the period. Morgan Stanley owned approximately 7.87% of ReachLocal worth $3,821,000 as of its most recent filing with the SEC.

ReachLocal, Inc (ReachLocal) offers a technology suite of online marketing and reporting solutions designed to deliver efficacy and insight to its clients. The Company’s total digital marketing solution consists of products and solutions in three categories: software (ReachEdge and Kickserv), digital advertising (including ReachSearch, ReachDisplay and ReachRetargeting), and Web presence (including ReachSite + ReachEdge, ReachSEO, ReachCast and TotalLiveChat).

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