Angi (NASDAQ:ANGI) Sees Strong Trading Volume – Here’s Why

Angi Inc. (NASDAQ:ANGI) shares saw strong trading volume on Monday . 462,138 shares changed hands during mid-day trading, a decline of 37% from the previous session’s volume of 737,827 shares.The stock last traded at $1.89 and had previously closed at $1.72.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JMP Securities cut their price target on Angi from $3.25 to $3.00 and set a “market outperform” rating for the company in a research note on Wednesday, November 13th. UBS Group raised Angi to a “hold” rating in a report on Monday, October 28th. Citigroup downgraded Angi from a “buy” rating to a “neutral” rating and dropped their price target for the company from $3.25 to $2.00 in a research note on Wednesday, November 13th. The Goldman Sachs Group cut shares of Angi from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $3.25 to $2.50 in a research report on Wednesday, November 13th. Finally, Benchmark decreased their target price on shares of Angi from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $3.25.

Angi Stock Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 1.98. The stock has a market cap of $900.10 million, a P/E ratio of 27.07 and a beta of 1.95. The stock has a 50-day simple moving average of $2.48 and a 200-day simple moving average of $2.33.

Angi (NASDAQ:ANGI) last announced its quarterly earnings results on Monday, November 11th. The technology company reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $296.72 million for the quarter, compared to analyst estimates of $295.90 million. Angi had a net margin of 2.61% and a return on equity of 3.79%. During the same period in the previous year, the firm posted ($0.01) EPS. Research analysts forecast that Angi Inc. will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On Angi

Several hedge funds have recently modified their holdings of ANGI. BNP Paribas Financial Markets boosted its stake in shares of Angi by 44.6% during the first quarter. BNP Paribas Financial Markets now owns 24,807 shares of the technology company’s stock valued at $65,000 after purchasing an additional 7,649 shares in the last quarter. SG Americas Securities LLC bought a new stake in Angi during the 1st quarter worth approximately $162,000. Vanguard Group Inc. grew its holdings in Angi by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 6,722,247 shares of the technology company’s stock worth $17,612,000 after acquiring an additional 95,514 shares during the last quarter. Quadrature Capital Ltd increased its position in Angi by 21.4% in the 1st quarter. Quadrature Capital Ltd now owns 96,857 shares of the technology company’s stock valued at $256,000 after acquiring an additional 17,102 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Angi during the second quarter valued at $183,000. Institutional investors and hedge funds own 12.84% of the company’s stock.

Angi Company Profile

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.