Gray Media (NYSE:GTN.A) Shares Gap Down – What’s Next?

Shares of Gray Media Inc. (NYSE:GTN.A) gapped down before the market opened on Wednesday . The stock had previously closed at $6.14, but opened at $5.75. Gray Media shares last traded at $5.75, with a volume of 214 shares trading hands.

Gray Media Stock Down 0.7%

The firm has a 50-day moving average of $6.88 and a two-hundred day moving average of $9.34. The stock has a market capitalization of $592.13 million, a price-to-earnings ratio of -9.43 and a beta of 0.51. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 2.73.

Gray Media (NYSE:GTN.A) last released its earnings results on Friday, August 7th. The company reported $0.21 earnings per share for the quarter. Gray Media had a negative return on equity of 1.12% and a negative net margin of 0.83%.The company had revenue of $839.00 million for the quarter.

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.