Troika Media (NASDAQ: TRKA) stock price has been facing a decline of over 40% in the recent month. The weekly and daily price performance of the stock also dropped by almost a similar percentage. Meanwhile, its YTD declined further, showing investors’s low confidence in the stock price.
Notably, the 52-week low that the stock has noted was at $2.38, which is quite near to the recent day low of stock price. If TRKA stock continues the bearish price performance in upcoming trading sessions, then this will take its price near to its 52-week low. On the other hand, its 52-week high was at $31.75 which was almost a-year before as seen in its price analysis chart.
TRKA Stock Price Analysis
Troika Media stock price closed at $2.64 and lost $0.15 in its recent trading day session on June 8th, Thursday. The stock experienced a decline of over 5% in yesterday’s trading session while the weekly drop was more than 30%. On Thursday, the stock opened at the price of $2.69, marked high at $2.72 while low was at $2.55.
As seen in the above chart, Troika Media stock has quite low trading volume and this low trading volume has taken its price downside. Meanwhile, mostly the stock has gained bear interest in it which took its price below the 20-day moving average. The RSI also started following the downside path and heading towards the oversold zone.
Although, at the time of its Q1 2023 earnings and revenue results in the previous month, the stock was trading at its 100-day EMA. It then started dropping down and reached the below level of its 20-day EMA.
Moreover, the analysts have set their one year price target for TRKA stock at $1.50, which is down more than 40% from its recent closing price.
The New York-based marketing services company has a market cap of nearly $43.63 Million. The total revenue for Q1 2023 is $59.04 Million, and it’s 13.31% lower compared to the previous quarter. The net income of Q1 23 is $-7.90 Million.
Due to the bear’s dominance in the market, TRKA stock price showed a bearish trend. However, bulls also tried to keep the price upside down while active bears mostly showed their power. As seen in the price chart, the daily trading volume noted by the stock was low which eventually took its price downside.
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Source: https://www.thecoinrepublic.com/2023/06/09/is-bearish-outlook-of-trka-stock-taking-it-near-its-52-week-low/