MNTN (NYSE:MNTN) Sets New 1-Year Low - Here's What Happened

Key Points

• MNTN Inc. (NYSE:MNTN) reached a new 52-week low of $18.04 amidst an 11.0% decline in stock value.
• Analysts have varying price targets for MNTN, with estimates ranging from $23.00 to $39.00 as several firms rated the stock between "buy" and "strong buy."
• The company reported a 25.0% year-over-year increase in quarterly revenue to $68.46 million, despite missing EPS estimates.

Shares of MNTN Inc. (NYSE:MNTN - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $18.04 and last traded at $18.11, with a volume of 973301 shares trading hands. The stock had previously closed at $20.35.

Analysts Set New Price Targets

Several research firms have commented on MNTN. Raymond James Financial began coverage on shares of MNTN in a report on Monday, June 16th. They set an "outperform" rating and a $27.00 price target for the company. Citizens Jmp initiated coverage on shares of MNTN in a research report on Monday, June 16th. They set a "strong-buy" rating and a $23.00 price objective for the company. Loop Capital initiated coverage on shares of MNTN in a research report on Monday, June 16th. They set a "buy" rating and a $29.00 price objective for the company. Evercore ISI boosted their price objective on shares of MNTN from $27.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Finally, JMP Securities boosted their price objective on shares of MNTN from $30.00 to $33.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, MNTN presently has a consensus rating of "Buy" and a consensus price target of $30.70.

MNTN Trading Down 11.0%

The stock's 50-day simple moving average is $23.33.

MNTN (NYSE:MNTN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The company had revenue of $68.46 million for the quarter, compared to analysts' expectations of $64.54 million. The firm's quarterly revenue was up 25.0% on a year-over-year basis. MNTN has set its Q3 2025 guidance at EPS.

Hedge Funds Weigh In On MNTN

A number of large investors have recently bought and sold shares of MNTN. Concurrent Investment Advisors LLC purchased a new position in MNTN during the 2nd quarter worth $492,000. TD Asset Management Inc purchased a new position in MNTN during the 2nd quarter worth $731,000. Bank of Montreal Can purchased a new position in MNTN during the 2nd quarter worth $4,432,000. Claro Advisors LLC purchased a new position in MNTN during the 2nd quarter worth $336,000. Finally, HBK Investments L P purchased a new position in MNTN during the 2nd quarter worth $2,187,000. Hedge funds and other institutional investors own 72.90% of the company's stock.

About MNTN

MNTN is on a mission to transform Connected TV (“CTV”) into a next-generation performance marketing channel. Our revolutionary Performance TV (“PTV”) software platform allows marketers to combine the powerful storytelling format of TV advertising with the targeting, measurement and attribution capabilities of paid search and social advertising.

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