Cowen Group Inc. (COWN) Sees Large Volume Increase
Cowen Group Inc. (NASDAQ:COWN) saw an uptick in trading volume on Friday . 720,170 shares traded hands during 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 cut shares of Cowen Group from a “buy” rating to a “hold” rating in a research note on Friday, June 3rd.
The company’s market capitalization is $348.44 million. The firm’s 50 day moving average price is $3.15 and its 200 day moving average price is $3.33.
Cowen Group (NASDAQ:COWN) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.12. The business had revenue of $117.23 million for the quarter, compared to the consensus estimate of $99.25 million. During the same period in the previous year, the company earned $0.05 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts forecast 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 raised its position in shares of Cowen Group Inc. (NASDAQ:COWN) by 4.3% during the fourth quarter, according to its most recent disclosure with the SEC. 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 as of its most recent SEC filing.
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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