Angi (NASDAQ:ANGI) Hits New 52-Week Low - Here's Why

Angi Inc. (NASDAQ:ANGI - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $11.00 and last traded at $11.13, with a volume of 145177 shares. The stock had previously closed at $12.20.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ANGI. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Angi in a research report on Wednesday, December 18th. StockNews.com raised Angi from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. JMP Securities cut their price objective on shares of Angi from $30.00 to $27.50 and set a "market outperform" rating for the company in a research report on Thursday, February 13th. Finally, Citigroup increased their target price on Angi from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $30.50.

Angi Stock Performance

The stock has a 50 day simple moving average of $15.87 and a 200 day simple moving average of $18.82. The company has a quick ratio of 2.05, a current ratio of 2.14 and a debt-to-equity ratio of 0.47. The company has a market cap of $616.61 million, a price-to-earnings ratio of 155.02 and a beta of 1.88.

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Hedge Funds Weigh In On Angi

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its position in shares of Angi by 113.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,722,460 shares of the technology company's stock worth $2,859,000 after acquiring an additional 914,037 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in Angi during the 4th quarter worth approximately $1,079,000. Westerly Capital Management LLC raised its position in shares of Angi by 20.9% in the 4th quarter. Westerly Capital Management LLC now owns 2,840,000 shares of the technology company's stock valued at $4,714,000 after purchasing an additional 490,000 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Angi during the 4th quarter valued at approximately $469,000. Finally, ArrowMark Colorado Holdings LLC grew its position in shares of Angi by 5.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 4,997,332 shares of the technology company's stock worth $8,296,000 after buying an additional 267,946 shares in the last quarter. 12.84% of the stock is owned by hedge funds and other institutional investors.

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.