Phoenix New Media Limited (NYSE:FENG) Sees Significant Decline in Short Interest

Phoenix New Media Limited (NYSE:FENG) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 70,400 shares, a decrease of 11.0% from the August 15th total of 79,100 shares. Based on an average daily trading volume, of 26,700 shares, the short-interest ratio is currently 2.6 days. Approximately 1.3% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Phoenix New Media in a research note on Wednesday, September 11th. They issued a “hold” rating on the stock.

Phoenix New Media Price Performance

Shares of FENG traded down $0.15 during trading hours on Wednesday, reaching $2.92. The company had a trading volume of 15,375 shares, compared to its average volume of 54,206. The company has a market capitalization of $35.30 million, a price-to-earnings ratio of -3.47 and a beta of 0.75. Phoenix New Media has a 12-month low of $1.10 and a 12-month high of $4.15. The firm has a 50 day simple moving average of $3.27 and a 200-day simple moving average of $2.53. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 0.02.

Phoenix New Media (NYSE:FENG) last announced its quarterly earnings results on Tuesday, August 13th. The information services provider reported ($0.06) EPS for the quarter. The firm had revenue of $23.16 million for the quarter. Phoenix New Media had a negative return on equity of 3.95% and a negative net margin of 6.60%.

Phoenix New Media Company Profile

Phoenix New Media Limited provides content on an integrated Internet platform in the People's Republic of China. The company operates through two segments, Net Advertising Services and Paid Services. It offers content and services through PC channel, mobile channel, and telecom operators, as well as transmits content to TV viewers, primarily through Phoenix TV.