CPI Card Group Inc (NASDAQ:PMTS) (TSE:PNT) shares rose 14.3% during trading on Monday . The stock traded as high as $3.19 and last traded at $2.87, approximately 213,532 shares traded hands during trading. An increase of 2,936% from the average daily volume of 7,034 shares. The stock had previously closed at $2.51.
PMTS has been the topic of several recent research reports. Zacks Investment Research raised shares of CPI Card Group from a “hold” rating to a “strong-buy” rating and set a $3.00 target price on the stock in a report on Tuesday. ValuEngine cut shares of CPI Card Group from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Barrington Research reaffirmed a “hold” rating on shares of CPI Card Group in a report on Wednesday, July 3rd.
The firm has a market cap of $28.17 million, a price-to-earnings ratio of -4.17 and a beta of 1.15. The company’s 50-day moving average is $2.58 and its 200-day moving average is $2.90.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Balter Liquid Alternatives LLC boosted its position in shares of CPI Card Group by 11.9% during the 2nd quarter. Balter Liquid Alternatives LLC now owns 66,201 shares of the credit services provider’s stock worth $170,000 after acquiring an additional 7,047 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of CPI Card Group during the 1st quarter worth approximately $119,000. Finally, Wells Fargo & Company MN boosted its position in shares of CPI Card Group by 90,909.1% during the 2nd quarter. Wells Fargo & Company MN now owns 10,011 shares of the credit services provider’s stock worth $25,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 8.37% of the company’s stock.
About CPI Card Group (NASDAQ:PMTS)
CPI Card Group Inc, together with its subsidiaries, engages in the design, production, data personalization, packaging, and fulfillment of financial payment cards. It operates through U.S. Debit and Credit, U.S. Prepaid Debit, and Other segments. The U.S. Debit and Credit segment produces financial payment cards and provides integrated card services to card-issuing banks in the United States.
Further Reading: Understanding Average Daily Trade Volume
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