Gen Digital (NASDAQ:GEN) Trading Down 0.9% - What's Next?

Gen Digital Inc. (NASDAQ:GEN - Get Free Report)'s share price traded down 0.9% during trading on Tuesday . The company traded as low as $22.97 and last traded at $23.50. 5,348,694 shares changed hands during trading, an increase of 36% from the average session volume of 3,940,172 shares. The stock had previously closed at $23.71.

Analyst Ratings Changes

Separately, Morgan Stanley initiated coverage on Gen Digital in a research note on Tuesday, March 18th. They issued an "equal weight" rating on the stock.

Gen Digital Trading Up 0.6 %

The company's fifty day simple moving average is $26.88 and its two-hundred day simple moving average is $27.84. The company has a market capitalization of $15.04 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 3.29.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. Research analysts forecast that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gen Digital

Several institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers lifted its stake in Gen Digital by 6.6% in the first quarter. Rhumbline Advisers now owns 1,116,301 shares of the company's stock valued at $29,627,000 after buying an additional 69,558 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Gen Digital during the 4th quarter worth about $14,367,000. GAMMA Investing LLC raised its stake in shares of Gen Digital by 2,954.9% in the 1st quarter. GAMMA Investing LLC now owns 322,169 shares of the company's stock valued at $8,550,000 after purchasing an additional 311,623 shares during the period. QSM Asset Management Ltd bought a new stake in shares of Gen Digital in the fourth quarter valued at about $5,373,000. Finally, Czech National Bank boosted its position in shares of Gen Digital by 5.9% during the first quarter. Czech National Bank now owns 124,568 shares of the company's stock worth $3,306,000 after buying an additional 6,995 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Gen Digital Company Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.