Cowen Group Inc. (COWN) Sees Strong Trading Volume
Cowen Group Inc. (NASDAQ:COWN) saw an uptick in trading volume on Friday . 720,170 shares were traded during mid-day trading, an increase of 2% from the previous session’s volume of 706,811 shares.The stock last traded at $3.21 and had previously closed at $3.33.
Separately, TheStreet lowered Cowen Group from a “buy” rating to a “hold” rating in a research report on Friday, June 3rd.
The company’s 50 day moving average is $3.15 and its 200-day moving average is $3.33. The firm’s market capitalization is $348.44 million.
Cowen Group (NASDAQ:COWN) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.12. During the same quarter last year, the firm earned $0.05 earnings per share. The firm earned $117.23 million during the quarter, compared to analyst estimates of $99.25 million. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Cowen Group Inc. will post ($0.13) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Cowen Group stock. Wells Fargo & Company MN boosted its position in Cowen Group Inc. (NASDAQ:COWN) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,261,798 shares of the company’s stock after buying an additional 135,307 shares during the period. Wells Fargo & Company MN owned approximately 3.06% of Cowen Group worth $12,493,000 at the end of the most recent quarter.
Cowen Group, Inc is a financial services company. The Company provides alternative investment management, investment banking, research, sales and trading, and prime brokerage services. It operates through two segments: alternative investment and broker-dealer. The alternative investment segment includes hedge funds, private equity structures, registered investment companies and listed investment vehicles.
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