Angi (NASDAQ:ANGI) Sets New 52-Week Low – Here’s Why

Angi Inc. (NASDAQ:ANGI)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.59 and last traded at $1.59, with a volume of 51942 shares changing hands. The stock had previously closed at $1.65.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ANGI shares. JPMorgan Chase & Co. restated a “neutral” rating on shares of Angi in a research note on Wednesday, December 18th. The Goldman Sachs Group lowered Angi from a “buy” rating to a “neutral” rating and dropped their price target for the company from $3.25 to $2.50 in a research note on Wednesday, November 13th. Benchmark reduced their price target on shares of Angi from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. KeyCorp lowered their price target on shares of Angi from $3.00 to $2.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Citigroup lowered shares of Angi from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $3.25 to $2.00 in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Angi presently has an average rating of “Hold” and a consensus price target of $3.11.

Angi Trading Down 2.4 %

The stock has a market cap of $800.60 million, a price-to-earnings ratio of 23.00 and a beta of 1.86. The business’s 50 day moving average is $2.11 and its 200 day moving average is $2.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 2.05.

Angi (NASDAQ:ANGI) last issued its quarterly earnings data on Monday, November 11th. The technology company reported $0.07 earnings per share (EPS) for the quarter. Angi had a return on equity of 3.79% and a net margin of 2.61%. The company had revenue of $296.72 million for the quarter, compared to analyst estimates of $295.90 million. During the same quarter last year, the company posted ($0.01) earnings per share. As a group, equities analysts expect that Angi Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Angi

A number of institutional investors have recently modified their holdings of ANGI. Assenagon Asset Management S.A. boosted its stake in shares of Angi by 1,372.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,401,716 shares of the technology company’s stock valued at $3,616,000 after buying an additional 1,306,515 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Angi by 36.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,855,694 shares of the technology company’s stock valued at $3,562,000 after purchasing an additional 494,739 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Angi by 152.5% in the 3rd quarter. Inspire Investing LLC now owns 462,100 shares of the technology company’s stock worth $1,192,000 after purchasing an additional 279,083 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Angi in the third quarter worth approximately $645,000. Finally, AQR Capital Management LLC lifted its stake in Angi by 24.1% in the 2nd quarter. AQR Capital Management LLC now owns 829,800 shares of the technology company’s stock worth $1,593,000 after acquiring an additional 161,189 shares in the last quarter. Institutional investors and hedge funds own 12.84% of the company’s stock.

About Angi

Angi Inc connects home service professionals with consumers in the United States and internationally. The company operates through three segments: Ads and Leads, Services, and International. It provides consumers with tools and resources to help them find local, pre-screened and customer-rated service professionals, matches consumers with independently established home services professionals.