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

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

Wall Street Analysts Forecast Growth

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

System1 Price Performance

The stock has a 50 day moving average price of $4.56 and a two-hundred day moving average price of $5.71. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market capitalization of $73.52 million, a PE ratio of -0.70 and a beta of 1.20.

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

Insider Buying and Selling at System1

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

Institutional Trading of System1

Hedge funds have recently modified their holdings of the company. Deutsche Bank AG increased its stake in System1 by 383.2% in the 4th quarter. Deutsche Bank AG now owns 146,110 shares of the company's stock valued at $131,000 after buying an additional 115,870 shares during the last quarter. Ancora Advisors LLC bought a new stake in System1 in the 4th quarter valued at about $175,000. JPMorgan Chase & Co. boosted its holdings in System1 by 160.5% in 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 period. Finally, Prudential Financial Inc. bought a new stake in System1 in the 4th quarter valued at about $45,000. 87.50% of the stock is currently owned by institutional investors and hedge funds.

About System1

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.