Reservoir Media (NASDAQ:RSVR) Stock Price Crosses Below 200-Day Moving Average - What's Next?

Key Points

• Reservoir Media shares fell below their 200-day moving average, trading as low as $9.51 and last changing hands at $9.52, compared with the average of $9.53.
• Weiss Ratings downgraded the stock from “hold (c)” to “hold (c-),” while the two analysts covering Reservoir Media maintain a consensus Hold rating.
• Institutional investors own 44.38% of the company, with several funds recently initiating or increasing positions; Reservoir Media’s market capitalization is approximately $626.6 million.

Shares of Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $9.53 and traded as low as $9.51. Reservoir Media shares last traded at $9.52, with a volume of 27,186 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Reservoir Media from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, August 20th. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat, the company currently has a consensus rating of "Hold".

Reservoir Media Stock Down 0.7%

The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.31 and a current ratio of 1.31. The company has a fifty day simple moving average of $9.55 and a two-hundred day simple moving average of $9.53. The firm has a market capitalization of $626.55 million, a PE ratio of 73.24 and a beta of 0.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RSVR. Squarepoint Ops LLC purchased a new stake in shares of Reservoir Media during the 2nd quarter worth $123,000. Bank of America Corp DE bought a new stake in Reservoir Media during the second quarter valued at about $179,000. Deutsche Bank AG bought a new stake in Reservoir Media during the second quarter valued at about $189,000. Hsbc Holdings PLC grew its stake in Reservoir Media by 3.6% in the fourth quarter. Hsbc Holdings PLC now owns 58,507 shares of the company's stock valued at $440,000 after purchasing an additional 2,042 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Reservoir Media in the second quarter valued at about $696,000. 44.38% of the stock is currently owned by institutional investors.

About Reservoir Media

Reservoir Media, Inc is a global independent music company that owns, administers and manages rights to musical compositions and sound recordings. Its business includes music publishing, recorded music, rights management and royalty collection, serving songwriters, artists, producers and other rights holders.

The company's catalog spans a broad range of genres and includes contemporary and historic songs, recordings and music-related intellectual property. Reservoir also operates record labels and provides services such as creative support, licensing, synchronization and administration for uses of music in film, television, advertising, video games and other media.

Founded in 2007, Reservoir has expanded through acquisitions and partnerships involving music publishing catalogs, recorded-music assets and related businesses.

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