ReachLocal Inc. (RLOC) Trading Down 0%
ReachLocal Inc. (NASDAQ:RLOC)’s share price dropped 0% during trading on Friday . The company 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. restated a “hold” rating and set a $2.60 target price on shares of ReachLocal in a report on Thursday, June 2nd.
The firm’s market cap is $137.16 million. The company’s 50 day moving average is $2.37 and its 200-day moving average is $1.91.
ReachLocal (NASDAQ:RLOC) last issued its earnings results on Tuesday, May 3rd. The company reported ($0.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.09. During the same period last year, the firm earned ($0.35) earnings per share. The firm had revenue of $78.70 million for the quarter, compared to the consensus estimate of $77.70 million. The company’s revenue for the quarter was down 21.0% on a year-over-year basis. Equities analysts predict that ReachLocal Inc. will post ($0.51) EPS for the current fiscal year.
A hedge fund recently raised its stake in ReachLocal stock. Morgan Stanley boosted its position in shares of ReachLocal Inc. (NASDAQ:RLOC) by 1.4% during the fourth quarter, Holdings Channel reports. The firm 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 at the end of the most recent quarter.
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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