Salem Media Group (NASDAQ:SALM) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Salem Media Group, Inc. (NASDAQ:SALM) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.29 and traded as high as $0.30. Salem Media Group shares last traded at $0.28, with a volume of 34,408 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Salem Media Group in a research report on Thursday. They issued a “hold” rating on the stock.

Salem Media Group Stock Performance

The company has a market cap of $7.62 million, a P/E ratio of -0.22 and a beta of 0.70. The business has a 50 day moving average price of $0.26 and a two-hundred day moving average price of $0.29.

Salem Media Group (NASDAQ:SALM) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.08 earnings per share for the quarter. Salem Media Group had a negative return on equity of 5.79% and a negative net margin of 13.66%. The firm had revenue of $60.61 million during the quarter.

About Salem Media Group

Salem Media Group, Inc operates as a multimedia company in the United States. It operates in three segments: Broadcast, Digital Media, and Publishing. The company owns and operates radio stations; offers programming to Christian and family-themed talk stations, music stations, and news talk stations; places advertising on Christian and talk formatted radio stations, and other commercial radio station formats; and operates Salem Podcast Network, a platform for conservative, political, news, and family-oriented podcasts.