ITV (OTCMKTS:ITVPY) Shares Gap Down - Here's Why

Key Points

• Gap down: ITV opened at $10.33 after a prior close of $10.9050 and last traded at $10.6650, down about 5.3% on light volume (832 shares).
• Analyst upgrade: Kepler Capital Markets raised ITV from "hold" to "strong-buy" on March 6, and MarketBeat shows a consensus rating of Buy (one Strong Buy, one Hold).
• Technicals and fundamentals: the 50- and 200-day simple moving averages are both $10.59; the company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.29, and operates as a UK broadcaster and content producer generating revenue mainly from advertising and ITV Studios.

Itv Plc. (OTCMKTS:ITVPY - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $10.9050, but opened at $10.33. ITV shares last traded at $10.6650, with a volume of 832 shares.

Wall Street Analyst Weigh In

Separately, Kepler Capital Markets raised shares of ITV from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

ITV Trading Down 5.3%

The firm's 50-day simple moving average is $10.59 and its 200 day simple moving average is $10.59. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.29.

ITV Company Profile

ITV plc is a United Kingdom–based broadcasting and media production company best known for its portfolio of free-to-air television channels, including ITV, ITV2, ITV3, ITV4 and CITV. The company generates revenue primarily through advertising sales across its broadcast network and digital platforms. In addition to traditional linear broadcasting, ITV offers on-demand and catch-up services via its streaming portal, providing viewers access to drama, entertainment, reality and sports programming.

Through its production arm, ITV Studios, the company develops, produces and distributes original content for both its own channels and third-party broadcasters and streaming platforms.

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