Remark Holdings Inc. (NASDAQ: MARK) Not A Good Play Anymore?


The Vanguard Group, Inc. has recently announced that it has increased stake in Remark Holdings Inc. (NASDAQ:MARK) by 73.95%. After grabbing 1.72 million shares, the institutional investor is now in possession of 0.73 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 1.73% having worth around $2.67 million. Moreover, Security Benefit Life Insurance C.. increased its share by 1.51 million to have a control over 1.51 million shares. And Susquehanna Financial Group LLLP raised its holdings to 1.17 million shares by acquiring 1.18 million shares or 1.19% of the stake.

Remark Holdings Inc. (MARK) concluded trading on 08/26/20 at a closing price of $1.11, with 2.89 million shares of worth about $3.21 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -7.50% during that period and on Wednesday the price saw a loss of about -3.48%. Currently the company’s common shares owned by public are about 89.26M shares, out of which, 81.07M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 1 analysts are covering the MARK stock and their offered price forecasts bring an average price target of $4.25. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $4.25 and could fall to a lowest price of $4.25. However, touching the estimated high of $4.25 would mean a gain of 73.88% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 0 times over the past 12 months. They bought 0 shares in 0 of the transactions. In 0 selling transactions, insiders dumped 0 shares.

Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Remark Holdings Inc. Vanguard Total Stock Market Index is currently holding 1.18 million shares of worth totaling $1.82 million. The company recently came buying 0.0 shares which brought its stake up to 1.18% of the company’s outstanding shares. Fidelity Extended Market Index Fu, after buying 0.18 million shares, have now control over 0.18% of the stake in the company. It holds 0.0 shares of worth $0.28 million.

Remark Holdings Inc. (NASDAQ: MARK) started trading at $1.14, below -$0.01 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $1.11, or with a loss of -3.48%. Stock saw a price change of -7.50% in past 5 days and over the past one month there was a price change of -20.14%. Year-to-date (YTD), MARK shares are showing a performance of 115.53% which increased to 50.20% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.25 but also hit the highest price of $3.56 during that period. While comparing its average daily trading volume of 16.08 million shares, we see that about 2.89 million changed hands on the day. The stock is currently trading -24.69% below its 20-day simple moving average (SMA20), while that difference is down -36.40% for SMA50 and it goes to 4.58% higher than SMA200.

The Vanguard Group, Inc. acquired 1.72 million shares of Remark Holdings Inc. having value of about $2.67 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.73 million shares in the company valued at close to $812128.17, or have control over 73.95% stake in the company. Remark Holdings Inc. (NASDAQ: MARK) currently have 89.26M outstanding shares and institutions hold larger chunk of about 10.00% of that. Holding of mutual funds in the company is about 2.40% while other institutional holders and individual stake holders have control over 6.72% and 11.30% of the stake respectively.

The stock has a current market capitalization of $105.89M and its 3Y-monthly beta is at 3.14. It has posted earnings per share of -$0.45 in the same period. It has Quick Ratio of 0.70. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MARK, volatility over the week remained 9.17% while standing at 11.80% over the month.

Analysts are in expectations that Remark Holdings Inc. (MARK) stock would likely to be making an EPS of -$0.04 in the current quarter, while forecast for next quarter ESPS is -$0.05 and it is -$0.21 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.04 which is -$0.04 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.11 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -8.90% while it is estimated to decrease by 0.00% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by ROTH Capital on January 31, 2018 offering a Buy rating for the stock and assigned a target price range of between $10.25 and $20.50 to it. Coverage by ROTH Capital stated Remark Holdings Inc. (MARK) stock as a Buy in their note to investors on October 13, 2016, suggesting a price target of $8.50 for the stock.


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