Reservoir Media (NASDAQ:RSVR) Stock Price Down 5.2% – What’s Next?

Reservoir Media, Inc. (NASDAQ:RSVR) shares dropped 5.2% on Thursday . The company traded as low as $8.58 and last traded at $8.58. Approximately 27,214 shares changed hands during trading, a decline of 50% from the average daily volume of 54,377 shares. The stock had previously closed at $9.05.

Analyst Ratings Changes

Separately, B. Riley lifted their target price on shares of Reservoir Media from $11.50 to $12.50 and gave the stock a “buy” rating in a report on Thursday, October 31st.

Reservoir Media Stock Down 5.1 %

The company has a debt-to-equity ratio of 0.90, a current ratio of 1.37 and a quick ratio of 1.25. The stock has a market cap of $560.27 million, a price-to-earnings ratio of -429.29, a price-to-earnings-growth ratio of 12.93 and a beta of 0.93. The firm has a 50 day simple moving average of $9.00 and a two-hundred day simple moving average of $8.16.

Institutional Trading of Reservoir Media

Large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new stake in shares of Reservoir Media in the second quarter valued at approximately $81,000. 272 Capital LP purchased a new position in shares of Reservoir Media in the 3rd quarter worth about $122,000. E&G Advisors LP purchased a new stake in Reservoir Media in the third quarter worth $246,000. Inspire Investing LLC bought a new stake in Reservoir Media in the 2nd quarter valued at about $367,000. Finally, Jane Street Group LLC lifted its stake in shares of Reservoir Media by 22.5% during the 3rd quarter. Jane Street Group LLC now owns 53,018 shares of the company’s stock valued at $430,000 after buying an additional 9,742 shares in the last quarter. Institutional investors own 44.38% of the company’s stock.

About Reservoir Media

Reservoir Media, Inc operates as a music publishing company. It operates through two segments, Music Publishing and Recorded Music. The Music Publishing segment acquires interests in music catalogs, as well as signs songwriters. The Recorded Music segment engages in the acquisition of sound recording catalogs; discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.