By Stephen Nakrosis
Shares of P10 touched a 52-week low in Friday’s market, a day after the company reported it swung to a fourth-quarter loss and some analysts cut their price targets for the private-markets-solutions provider.
Shortly after noon, the stock was trading about 16% lower, at $7.80 a share. Volume topped 1.8 million shares, above the stock’s 65-day average volume of 688,485 shares.
Earlier in the session, the stock touched a 52-week low of $7.13 a share.
After the bell Thursday, the company reported a fourth-quarter loss per share of 1 cent on revenue of $63.1 million. Analysts had been expecting earnings per share of 16 cents, according to FactSet.
On an adjusted basis, P10 reported fourth-quarter EPS of 21 cents.
In the year-ago period, the company reported EPS of 4 cents on revenue of $58.3 million.
Also on Friday, Keefe, Bruyette & Woods cut its price target in P10 shares to $10 from $12, and J.P. Morgan cut its price target on the shares to $9.50 from $15.50, as reported by Benzinga.
Write to Stephen Nakrosis at [email protected]
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