Kartoon Studios (NASDAQ:TOON) Shares Up 1.3% – Here’s Why

Kartoon Studios Inc. (NASDAQ:TOON)’s stock price was up 1.3% during trading on Tuesday . The stock traded as high as $0.52 and last traded at $0.52. Approximately 83,709 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 210,836 shares. The stock had previously closed at $0.51.

Kartoon Studios Trading Up 1.3 %

The firm’s 50-day moving average price is $0.57 and its two-hundred day moving average price is $0.74. The stock has a market cap of $20.50 million, a PE ratio of -0.51 and a beta of 2.77.

Institutional Trading of Kartoon Studios

An institutional investor recently raised its position in Kartoon Studios stock. Geode Capital Management LLC lifted its stake in Kartoon Studios Inc. (NASDAQ:TOON) by 9.7% in the 3rd quarter, according to the company in its most recent 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 0.93% of Kartoon Studios worth $318,000 at the end of the most recent quarter. 8.57% of the stock is owned by institutional investors and hedge funds.

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.