Kartoon Studios (NASDAQ:TOON) Trading Down 1.6% – What’s Next?

Kartoon Studios Inc. (NASDAQ:TOON) shares were down 1.6% during trading on Wednesday . The stock traded as low as $0.60 and last traded at $0.62. Approximately 429,768 shares were traded during trading, an increase of 113% from the average daily volume of 201,323 shares. The stock had previously closed at $0.63.

Kartoon Studios Stock Down 1.6 %

The firm has a 50-day moving average price of $0.76 and a 200 day moving average price of $0.89. The firm has a market capitalization of $24.53 million, a PE ratio of -0.61 and a beta of 2.76.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Kartoon Studios stock. Geode Capital Management LLC increased its stake in Kartoon Studios Inc. (NASDAQ:TOON) by 9.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 367,297 shares of the company’s stock after acquiring an additional 32,428 shares during the period. Geode Capital Management LLC owned approximately 0.93% of Kartoon Studios worth $318,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.57% of the company’s stock.

About Kartoon Studios

Kartoon Studios Inc, a content and brand management company, creates, produces, licenses, and broadcasts educational and multimedia animated content for children worldwide. The company offers Shaq’s Garage, a children’s animated series about the secret adventures; Cocomelon that provides 3D animation videos of traditional nursery rhymes and children’s songs; Eggventurers, a preschool animated series; Barbie Productions that provides animated Barbie series; Octonauts, a children’s television series based on the children’s books; Roblox Rumble, an elimination-style competitive reality series; and Spin Master Productions.