Autoweb (AUTO) Hits New 12-Month Low After Earnings Miss

Autoweb Inc (NASDAQ:AUTO)’s share price reached a new 52-week low during trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $2.20 and last traded at $2.22, with a volume of 800 shares traded. The stock had previously closed at $2.26.

The information services provider reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.06). Autoweb had a negative net margin of 61.64% and a negative return on equity of 7.50%. The business had revenue of $31.70 million during the quarter, compared to analyst estimates of $30.74 million.

Several analysts recently commented on the company. Barrington Research restated a “hold” rating on shares of Autoweb in a research report on Tuesday, July 31st. ValuEngine upgraded Autoweb from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. Five investment analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $6.67.

Hedge funds and other institutional investors have recently modified their holdings of the business. Manatuck Hill Partners LLC bought a new position in Autoweb during the 2nd quarter valued at $235,000. Macquarie Group Ltd. boosted its stake in Autoweb by 17.1% during the 2nd quarter. Macquarie Group Ltd. now owns 146,841 shares of the information services provider’s stock valued at $664,000 after purchasing an additional 21,395 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Autoweb by 11.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 315,549 shares of the information services provider’s stock valued at $940,000 after purchasing an additional 31,534 shares in the last quarter. Fondren Management LP boosted its stake in Autoweb by 49.8% during the 2nd quarter. Fondren Management LP now owns 419,369 shares of the information services provider’s stock valued at $1,896,000 after purchasing an additional 139,369 shares in the last quarter. Finally, Kokino LLC boosted its stake in Autoweb by 2.4% during the 2nd quarter. Kokino LLC now owns 706,400 shares of the information services provider’s stock valued at $3,193,000 after purchasing an additional 16,400 shares in the last quarter. 40.25% of the stock is owned by hedge funds and other institutional investors.

The company has a market cap of $30.54 million, a PE ratio of 7.41 and a beta of 1.40.

TRADEMARK VIOLATION NOTICE: “Autoweb (AUTO) Hits New 12-Month Low After Earnings Miss” was posted by WKRB News and is the property of of WKRB News. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.wkrb13.com/2018/11/11/autoweb-auto-hits-new-12-month-low-after-earnings-miss.html.

About Autoweb (NASDAQ:AUTO)

AutoWeb, Inc operates as a digital marketing company for the automotive industry in the United States. It assists automotive retail dealers and manufacturers to market and sell new and used vehicles to consumers through its programs. The company's products include new vehicle lead program, which allows consumers to submit requests for pricing and availability of specific makes and models; and used vehicle lead program, which allows consumers to search for used vehicles according to search parameters, such as price, make, model, mileage, year, and location of the vehicle.

Read More: Momentum Indicator: Relative Strength Index

Receive News & Ratings for Autoweb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Autoweb and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply