Gray Media (NYSE:GTN.A) Shares Down 14.7% – Here’s Why

Gray Media Inc. (NYSE:GTN.A)’s share price was down 14.7% during trading on Wednesday . The stock traded as low as $7.21 and last traded at $7.21. Approximately 116 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 10,036 shares. The stock had previously closed at $8.45.

Gray Media Stock Down 2.6%

The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market cap of $740.76 million, a price-to-earnings ratio of -4.71 and a beta of 0.50. The business’s 50 day moving average price is $7.98 and its 200 day moving average price is $10.53.

Gray Media (NYSE:GTN.A) last posted its earnings results on Thursday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter. Gray Media had a negative net margin of 3.12% and a negative return on equity of 3.07%.

About Gray Media

Gray Media, doing business as Gray Television, Inc, operates an extensive network of local television stations and digital platforms across the United States. The company’s broadcast portfolio offers a mix of network-affiliated programming—ranging from national news and entertainment from ABC, CBS, NBC and Fox—to locally produced content including news, sports and weather coverage. In addition to traditional broadcast, Gray Media provides digital advertising, streaming and over-the-top solutions through its websites, mobile apps and branded digital marketplaces.

Established in 1946 as Gray Communications Systems, the company went public in 2006 and adopted the Gray Television name in 2010.