Kartoon Studios (NASDAQ:TOON) Shares Down 3.1% – Here’s What Happened

Kartoon Studios Inc. (NASDAQ:TOON)’s stock price fell 3.1% during trading on Wednesday . The stock traded as low as $0.55 and last traded at $0.57. 120,667 shares were traded during mid-day trading, a decline of 58% from the average session volume of 285,709 shares. The stock had previously closed at $0.59.

Kartoon Studios Trading Down 3.1 %

The firm has a 50-day simple moving average of $0.66 and a two-hundred day simple moving average of $0.81. The company has a market capitalization of $22.59 million, a price-to-earnings ratio of -0.56 and a beta of 2.78.

Institutional Trading of Kartoon Studios

A hedge fund recently raised its stake in Kartoon Studios stock. Geode Capital Management LLC lifted its position in shares of Kartoon Studios Inc. (NASDAQ:TOON) by 9.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 367,297 shares of the company’s stock after purchasing an additional 32,428 shares during the quarter. Geode Capital Management LLC owned 0.93% of Kartoon Studios worth $318,000 as of its most recent SEC filing. Institutional investors and hedge funds own 8.57% of the company’s stock.

Kartoon Studios Company Profile

Kartoon Studios Inc, a content and brand management company, creates, produces, licenses, and broadcasts educational and multimedia animated content for children worldwide. The company offers Shaq’s Garage, a children’s animated series about the secret adventures; Cocomelon that provides 3D animation videos of traditional nursery rhymes and children’s songs; Eggventurers, a preschool animated series; Barbie Productions that provides animated Barbie series; Octonauts, a children’s television series based on the children’s books; Roblox Rumble, an elimination-style competitive reality series; and Spin Master Productions.