Demand Media Inc. (DMD) Sees Strong Trading Volume
Demand Media Inc. (NYSE:DMD) shares saw unusually-high trading volume on Tuesday . Approximately 68,059 shares were traded during mid-day trading, a decline of 16% from the previous session’s volume of 80,955 shares.The stock last traded at $5.39 and had previously closed at $5.41.
A number of research firms have issued reports on DMD. Jefferies Group reissued a “hold” rating on shares of Demand Media in a report on Tuesday, May 10th. Zacks Investment Research downgraded shares of Demand Media from a “hold” rating to a “sell” rating in a report on Thursday, May 12th. Roth Capital began coverage on shares of Demand Media in a report on Wednesday, June 29th. They issued a “buy” rating and a $8.00 price objective for the company. Finally, B. Riley reissued a “buy” rating and issued a $9.00 price objective on shares of Demand Media in a report on Sunday, May 15th.
The stock’s market capitalization is $106.01 million. The firm has a 50 day moving average price of $5.29 and a 200 day moving average price of $5.26.
Demand Media (NYSE:DMD) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.01. The firm had revenue of $27 million for the quarter, compared to the consensus estimate of $28.74 million. The firm’s revenue for the quarter was down 18.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.16) earnings per share. On average, analysts forecast that Demand Media Inc. will post ($1.16) earnings per share for the current year.
Demand Media, Inc is an Internet company. The Company builds platforms across its media and marketplaces properties to enable communities of creators to reach audiences in various lifestyle categories. The Company’s service offerings include Content and Media, and Marketplaces. Its Content and Media service offering includes its owned and operated online properties that publish media content.