Amber International (NASDAQ:AMBR) Shares Down 23.8% – Here’s Why

Amber International Holding Limited – Sponsored ADR (NASDAQ:AMBR) traded down 23.8% during mid-day trading on Wednesday . The company traded as low as $0.83 and last traded at $0.9448. 189,942 shares were traded during trading, an increase of 1,260% from the average session volume of 13,968 shares. The stock had previously closed at $1.24.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Citigroup reiterated a “positive” rating on shares of Amber International in a research note on Tuesday, April 28th. Weiss Ratings lowered shares of Amber International from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Amber International Price Performance

The business has a 50 day moving average price of $1.40 and a two-hundred day moving average price of $1.91.

Amber International (NASDAQ:AMBR) last posted its earnings results on Friday, May 15th. The company reported ($0.01) earnings per share for the quarter. Amber International had a negative net margin of 1.43% and a negative return on equity of 0.72%. The company had revenue of $10.03 million for the quarter.

Institutional Trading of Amber International

Several institutional investors and hedge funds have recently modified their holdings of AMBR. Two Sigma Investments LP bought a new position in shares of Amber International in the 3rd quarter worth $42,000. Qube Research & Technologies Ltd purchased a new position in shares of Amber International during the third quarter worth $52,000. SmartHarvest Portfolios LLC purchased a new stake in shares of Amber International in the fourth quarter worth about $35,000. Millennium Management LLC purchased a new position in shares of Amber International during the 3rd quarter valued at approximately $98,000. Finally, XTX Topco Ltd purchased a new stake in shares of Amber International during the 4th quarter worth about $71,000.

Amber International Company Profile

iClick Interactive Asia Group Limited, together with its subsidiaries, provides online marketing services in the People’s Republic of China and internationally. It offers iAudience, an audience identification solution that allows marketers to search, identify, and customize their targeted audience to generate or enhance brand awareness; iAccess and iActivation, an audience engagement and activation solution tailored for brand awareness-driven and performance-driven campaigns; iExpress, the lite version of iAccess solution for small and medium-sized enterprises; iNsights, an online campaign results monitoring and measurement solution; and iExperience, a content creation solution.