Reservoir Media (NASDAQ:RSVR) Shares Up 6.5% – What’s Next?

Reservoir Media, Inc. (NASDAQ:RSVR) shot up 6.5% during mid-day trading on Monday . The stock traded as high as $8.60 and last traded at $8.68. 3,813 shares were traded during mid-day trading, a decline of 84% from the average session volume of 23,355 shares. The stock had previously closed at $8.15.

Analyst Ratings Changes

Separately, B. Riley increased their target price on shares of Reservoir Media from $11.50 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st.

Reservoir Media Stock Performance

The company’s 50-day moving average price is $8.79 and its two-hundred day moving average price is $8.26. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.25 and a current ratio of 1.37. The stock has a market cap of $552.50 million, a PE ratio of -425.29, a PEG ratio of 11.61 and a beta of 0.94.

Institutional Trading of Reservoir Media

Several institutional investors and hedge funds have recently made changes to their positions in RSVR. JPMorgan Chase & Co. raised its position in Reservoir Media by 161.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 65,537 shares of the company’s stock worth $532,000 after purchasing an additional 40,484 shares during the period. 272 Capital LP purchased a new position in Reservoir Media in the 3rd quarter worth $122,000. Barclays PLC raised its position in Reservoir Media by 44.1% in the 3rd quarter. Barclays PLC now owns 60,988 shares of the company’s stock worth $495,000 after purchasing an additional 18,675 shares during the period. Geode Capital Management LLC raised its position in Reservoir Media by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 620,941 shares of the company’s stock worth $5,037,000 after purchasing an additional 13,836 shares during the period. Finally, Jane Street Group LLC raised its position in Reservoir Media by 22.5% in the 3rd quarter. Jane Street Group LLC now owns 53,018 shares of the company’s stock worth $430,000 after purchasing an additional 9,742 shares during the period. Hedge funds and other institutional investors own 44.38% of the company’s stock.

Reservoir Media Company Profile

Reservoir Media, Inc operates as a music publishing company. It operates through two segments, Music Publishing and Recorded Music. The Music Publishing segment acquires interests in music catalogs, as well as signs songwriters. The Recorded Music segment engages in the acquisition of sound recording catalogs; discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.