System1 (NYSE:SST) Stock Price Down 10.7% - Here's Why

System1, Inc. (NYSE:SST - Get Free Report) shares fell 10.7% during mid-day trading on Wednesday . The stock traded as low as $7.52 and last traded at $8.36. 236,849 shares were traded during trading, an increase of 432% from the average session volume of 44,522 shares. The stock had previously closed at $9.36.

Analyst Ratings Changes

Separately, Benchmark restated a "buy" rating and set a $50.00 target price on shares of System1 in a research note on Tuesday, March 11th.

System1 Stock Down 18.6%

The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 3.67. The firm has a market cap of $60.00 million, a P/E ratio of -0.57 and a beta of 1.21. The company's 50 day simple moving average is $4.73 and its 200-day simple moving average is $5.63.

System1 (NYSE:SST - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($2.10) EPS for the quarter. System1 had a negative net margin of 23.99% and a negative return on equity of 83.18%. The business had revenue of $74.51 million for the quarter.

Insider Activity

In other System1 news, Director John Civantos purchased 18,842 shares of System1 stock in a transaction dated Thursday, June 12th. The stock was purchased at an average price of $3.89 per share, with a total value of $73,295.38. Following the transaction, the director now directly owns 49,455 shares of the company's stock, valued at $192,379.95. This trade represents a 61.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.20% of the company's stock.

Institutional Investors Weigh In On System1

Several hedge funds and other institutional investors have recently made changes to their positions in SST. Ancora Advisors LLC purchased a new stake in shares of System1 during the 4th quarter valued at about $175,000. Deutsche Bank AG increased its position in shares of System1 by 383.2% during the 4th quarter. Deutsche Bank AG now owns 146,110 shares of the company's stock valued at $131,000 after purchasing an additional 115,870 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of System1 by 160.5% during the 4th quarter. JPMorgan Chase & Co. now owns 88,544 shares of the company's stock valued at $80,000 after purchasing an additional 54,551 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of System1 during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 87.50% of the company's stock.

System1 Company Profile

System1, Inc provides omnichannel customer acquisition platform services through its proprietary responsive acquisition marketing platform in the United States, the United Kingdom, Canada, the Netherlands, and internationally. It operates through two segments: Owned and Operated Advertising, and Partner Network.