HC Wainwright Trims VIQ Solutions (NASDAQ:VQS) Target Price to $2.00

VIQ Solutions (NASDAQ:VQSGet Rating) had its price target reduced by HC Wainwright from $4.00 to $2.00 in a research report sent to investors on Thursday, The Fly reports. They currently have a buy rating on the stock.

VIQ Solutions Stock Up 2.8 %

Shares of NASDAQ:VQS opened at $0.67 on Thursday. The stock has a market cap of $22.38 million, a price-to-earnings ratio of -1.48 and a beta of -0.26. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $0.92 and its 200 day moving average is $1.25. VIQ Solutions has a 12-month low of $0.64 and a 12-month high of $3.50.

VIQ Solutions (NASDAQ:VQSGet Rating) last released its earnings results on Wednesday, August 10th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). The company had revenue of $12.35 million for the quarter, compared to analysts’ expectations of $12.08 million. VIQ Solutions had a negative return on equity of 65.24% and a negative net margin of 32.94%. On average, sell-side analysts forecast that VIQ Solutions will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On VIQ Solutions

A hedge fund recently raised its stake in VIQ Solutions stock. Adirondack Retirement Specialists Inc. increased its stake in VIQ Solutions Inc. (NASDAQ:VQSGet Rating) by 729.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,468,973 shares of the company’s stock after buying an additional 1,291,880 shares during the quarter. VIQ Solutions accounts for approximately 2.0% of Adirondack Retirement Specialists Inc.’s portfolio, making the stock its 10th largest holding. Adirondack Retirement Specialists Inc. owned 4.92% of VIQ Solutions worth $1,998,000 as of its most recent SEC filing. 11.29% of the stock is currently owned by institutional investors and hedge funds.

About VIQ Solutions

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VIQ Solutions Inc operates as a technology and service platform provider for digital evidence capture, retrieval, and content management in Australia, the United States, the United Kingdom, Canada, and internationally. It operates through two segments, Technology and Related Revenue, and Technology Services.

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