Kartoon Studios (NASDAQ:TOON) Stock Price Down 3.1% – Should You Sell?

Kartoon Studios Inc. (NASDAQ:TOON)’s stock price traded down 3.1% during mid-day trading on Wednesday . The stock traded as low as $0.55 and last traded at $0.57. 120,667 shares changed hands during trading, a decline of 58% from the average session volume of 285,709 shares. The stock had previously closed at $0.59.

Kartoon Studios Stock Down 3.1 %

The company has a market capitalization of $22.59 million, a PE ratio of -0.56 and a beta of 2.78. The business has a 50 day simple moving average of $0.66 and a 200 day simple moving average of $0.81.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Kartoon Studios stock. Geode Capital Management LLC lifted its position in Kartoon Studios Inc. (NASDAQ:TOON) by 9.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 367,297 shares of the company’s stock after acquiring an additional 32,428 shares during the period. Geode Capital Management LLC owned 0.93% of Kartoon Studios worth $318,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 8.57% of the stock is owned by institutional investors.

Kartoon Studios Company Profile

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.