Angi (NASDAQ:ANGI) Shares Gap Up - Here's Why

Angi Inc. (NASDAQ:ANGI - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $1.73, but opened at $1.92. Angi shares last traded at $2.02, with a volume of 1,460,288 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ANGI. KeyCorp reduced their price target on shares of Angi from $3.00 to $2.00 and set an "overweight" rating for the company in a research report on Wednesday, November 20th. Benchmark dropped 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. UBS Group raised Angi to a "hold" rating in a research note on Monday, October 28th. Citigroup lifted their target price on Angi from $1.70 to $2.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group lowered Angi from a "buy" rating to a "neutral" rating and lowered their price target for the company from $3.25 to $2.50 in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $3.05.

Angi Price Performance

The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $914.98 million, a PE ratio of 26.29 and a beta of 1.86. The stock's fifty day moving average is $1.75 and its two-hundred day moving average is $2.17.

Hedge Funds Weigh In On Angi

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANGI. ArrowMark Colorado Holdings LLC lifted its stake in shares of Angi by 1.8% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 4,729,386 shares of the technology company's stock valued at $12,202,000 after buying an additional 84,328 shares in the last quarter. Westerly Capital Management LLC raised its holdings in Angi by 20.9% during 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 acquiring an additional 490,000 shares during the period. Arrowstreet Capital Limited Partnership lifted 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 in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Angi by 1,372.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,401,716 shares of the technology company's stock worth $3,616,000 after acquiring an additional 1,306,515 shares during the period. Finally, M&T Bank Corp grew its position in shares of Angi by 16.7% in the fourth quarter. M&T Bank Corp now owns 589,242 shares of the technology company's stock valued at $978,000 after purchasing an additional 84,304 shares in the last quarter. Institutional investors 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.