Reservoir Media (NASDAQ:RSVR) Sees Unusually-High Trading Volume - Here's What Happened

Shares of Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) saw strong trading volume on Friday . 19,275 shares traded hands during trading, a decline of 11% from the previous session's volume of 21,676 shares.The stock last traded at $8.11 and had previously closed at $8.25.

Analyst Upgrades and Downgrades

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

Reservoir Media Trading Up 1.6 %

The company has a current ratio of 1.37, a quick ratio of 1.25 and a debt-to-equity ratio of 0.90. The business has a 50 day moving average of $8.70 and a 200-day moving average of $8.28. The firm has a market capitalization of $530.24 million, a P/E ratio of -406.30, a PEG ratio of 11.87 and a beta of 0.92.

Hedge Funds Weigh In On Reservoir Media

Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company acquired a new position in Reservoir Media during the second quarter worth $81,000. 272 Capital LP bought a new position in shares of Reservoir Media in the 3rd quarter valued at about $122,000. E&G Advisors LP acquired a new stake in shares of Reservoir Media in the third quarter valued at about $246,000. Inspire Investing LLC increased its position in shares of Reservoir Media by 13.7% in the third quarter. Inspire Investing LLC now owns 52,858 shares of the company's stock valued at $429,000 after acquiring an additional 6,375 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in Reservoir Media by 22.5% during the third quarter. Jane Street Group LLC now owns 53,018 shares of the company's stock worth $430,000 after acquiring an additional 9,742 shares in the last quarter. 44.38% of the stock is owned by institutional investors.

Reservoir Media Company Profile

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.