Professional Diversity Network (NASDAQ:IPDN) Stock Price Crosses Below 200 Day Moving Average of $1.96

Shares of Professional Diversity Network, Inc. (NASDAQ:IPDN) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.96 and traded as low as $1.66. Professional Diversity Network shares last traded at $1.68, with a volume of 2,212 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Professional Diversity Network in a research note on Friday. They set a “sell” rating for the company.

Professional Diversity Network Trading Down 30.4 %

The firm has a market capitalization of $13.40 million, a PE ratio of -2.79 and a beta of 12.79. The business’s 50 day simple moving average is $1.89 and its two-hundred day simple moving average is $1.95.

Institutional Investors Weigh In On Professional Diversity Network

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Professional Diversity Network by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 145,365 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 17,734 shares during the period. State Street Corp grew its stake in shares of Professional Diversity Network by 40.4% during the 2nd quarter. State Street Corp now owns 23,285 shares of the information services provider’s stock valued at $104,000 after acquiring an additional 6,700 shares during the period. BlackRock Inc. bought a new position in shares of Professional Diversity Network during the 2nd quarter valued at approximately $67,000. Geode Capital Management LLC grew its stake in shares of Professional Diversity Network by 89.1% during the 2nd quarter. Geode Capital Management LLC now owns 67,211 shares of the information services provider’s stock valued at $299,000 after acquiring an additional 31,673 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Professional Diversity Network during the 1st quarter valued at approximately $136,000. 27.75% of the stock is currently owned by hedge funds and other institutional investors.

About Professional Diversity Network

Professional Diversity Network, Inc operates online professional networking communities with career resources in the United States. It operates in three segments: Professional Diversity Network (PDN Network), National Association of Professional Women (NAPW Network), and RemoteMore USA (RemoteMore). The company offers online professional job seeking communities that offers recruitment services, such as single and multiple job postings, recruitment media, talent recruitment communities, corporate memberships, hiring campaign marketing and advertising, e-newsletter marketing, and research and outreach services to various cultural groups and employers.