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IMedia Brands (NASDAQ:IMBI) PT Lowered to $2.00

Defense World ·  11/25/2022 18:21

iMedia Brands (NASDAQ:IMBI – Get Rating) had its target price dropped by Lake Street Capital from $3.00 to $2.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Lake Street Capital's price objective suggests a potential upside of 229.60% from the company's previous close.

Other research analysts also recently issued reports about the stock. B. Riley raised shares of iMedia Brands from a "neutral" rating to a "buy" rating and set a $5.00 target price for the company in a research report on Thursday, September 15th. Craig Hallum reduced their target price on shares of iMedia Brands from $20.00 to $7.00 in a research report on Thursday, August 25th.

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iMedia Brands Stock Up 7.1 %

Shares of IMBI stock opened at $0.61 on Wednesday. iMedia Brands has a 52-week low of $0.44 and a 52-week high of $7.74. The company has a quick ratio of 0.75, a current ratio of 1.36 and a debt-to-equity ratio of 4.53. The company has a 50-day simple moving average of $0.59 and a two-hundred day simple moving average of $1.17.

iMedia Brands (NASDAQ:IMBI – Get Rating) last issued its quarterly earnings data on Wednesday, August 24th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.06). iMedia Brands had a negative return on equity of 75.94% and a negative net margin of 8.16%. The firm had revenue of $133.23 million during the quarter, compared to the consensus estimate of $156.65 million. During the same period in the previous year, the company posted ($0.22) earnings per share. As a group, sell-side analysts forecast that iMedia Brands will post -1.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. D.A. Davidson & CO. boosted its holdings in iMedia Brands by 407.1% in the 2nd quarter. D.A. Davidson & CO. now owns 109,111 shares of the company's stock worth $132,000 after buying an additional 87,593 shares during the period. Dimensional Fund Advisors LP boosted its holdings in iMedia Brands by 15.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 96,688 shares of the company's stock worth $583,000 after buying an additional 12,663 shares during the period. HighTower Advisors LLC bought a new position in iMedia Brands in the 1st quarter worth approximately $96,000. International Assets Investment Management LLC boosted its holdings in iMedia Brands by 54.3% in the 2nd quarter. International Assets Investment Management LLC now owns 61,756 shares of the company's stock worth $75,000 after buying an additional 21,741 shares during the period. Finally, Royce & Associates LP boosted its holdings in iMedia Brands by 32.8% in the 3rd quarter. Royce & Associates LP now owns 1,312,947 shares of the company's stock worth $840,000 after buying an additional 324,537 shares during the period. 39.68% of the stock is owned by institutional investors.

About iMedia Brands

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iMedia Brands, Inc operates as an interactive media company in the United States and internationally. It operates through three segments: Entertainment, Consumer Brands, and Media Commerce Services. The company operates television networks, including ShopHQ that offers jewelry and watches, home, beauty and health, and fashion and accessories; ShopBulldogTV, which provides male-oriented products and services; ShopHQHealth that offers women and men products and services focused on health and wellness categories, such as physical, mental and spiritual health, financial and motivational wellness, weight management, and telehealth medical services; ShopJewelryHQ for jewelry products and services; and, a retailing marketplace for live and automated auctions.

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