Redbox Entertainment (NASDAQ:RDBX) Trading 9.8% Higher

Redbox Entertainment Inc. (NASDAQ:RDBX – Get Rating) was up 9.8% on Thursday . The stock traded as high as 13.50 and last traded at 12.03. Approximately 189,811 shares changed hands during trading, a decline of 98% from the average daily volume of 11,701,544 shares. The stock had previously closed at 10.96.

Several equities research analysts have recently weighed in on the company. Wedbush lowered Redbox Entertainment from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 11th. Canaccord Genuity Group lowered their price target on shares of Redbox Entertainment from $16.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, April 20th. Canaccord Genuity Group cut their target price on shares of Redbox Entertainment from $16.00 to $3.00 in a research report on Wednesday, April 20th. B. Riley lowered shares of Redbox Entertainment from a “neutral” rating to a “sell” rating in a research note on Friday, May 27th. Finally, BTIG Research downgraded shares of Redbox Entertainment from a “buy” rating to a “neutral” rating in a report on Monday, April 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of 9.57.

The business has a fifty day moving average price of 5.43 and a two-hundred day moving average price of 5.14.

Hedge funds and other institutional investors have recently modified their holdings of the company. National Asset Management Inc. acquired a new stake in shares of Redbox Entertainment during the first quarter worth about $30,000. Squarepoint Ops LLC acquired a new stake in shares of Redbox Entertainment during the 4th quarter worth $104,000. Goldman Sachs Group Inc. purchased a new position in Redbox Entertainment in the 1st quarter valued at about $36,000. CenterStar Asset Management LLC bought a new position in Redbox Entertainment in the fourth quarter worth about $130,000. Finally, Northern Trust Corp acquired a new position in shares of Redbox Entertainment during the fourth quarter valued at approximately $132,000.

Redbox Entertainment Company Profile (NASDAQ:RDBX)

Redbox Entertainment Inc operates a network of self-service kiosks in the United States. It operates a network of approximately 38,000 self-service kiosks, where consumers could rent or purchase new-release DVDs and Blu-ray Discs. The company provides installation, merchandising, and break-fix services to other kiosk businesses.

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