Sirius XM (SIRI, Financial) recently experienced significant stock movement with a sharp decline of 5.03% in its stock price, now trading at $25.67 per share. The trading volume reached 2.72 million shares, with a turnover rate of 0.80% and a price fluctuation of 4.27%.
The company's recent financial report reveals operating revenue of $2.171 billion, but a net loss of $2.456 billion, translating to a loss per share of $7.24. It reported a gross profit of $910 million, resulting in a negative P/E ratio of -5.97.
Regarding analyst ratings, among the 17 institutions covering Sirius XM, 29% suggest buying, 35% recommend holding, and 36% advise selling the stock.
In the broader entertainment industry, the overall decline was 1.59%. Notable performers included Cineverse Corp., Disney, and Liberty Media Corporation - Series A Liberty Live, which saw significant gains. Stocks such as Cineverse Corp., Color Star Technology, and Roku, Inc. showed high turnover rates of 15.12%, 14.85%, and 1.57%, respectively. Cineverse Corp., Kuke Music, and Multimetaverse Holdings Limited had considerable price swings, at 34.23%, 17.20%, and 14.62% respectively.
Sirius XM operates primarily through its SiriusXM and Pandora audio services in the U.S. SiriusXM offers satellite radio services with nationwide coverage, mostly ad-free, featuring proprietary channels and exclusive content. The company collaborates with automakers to install its radios and offers trial services to car buyers, which is a traditional customer source. SiriusXM now also provides streaming options. Pandora, although a smaller segment, offers supported and subscription streaming music services, competing with industry leaders like Spotify, Apple Music, and YouTube Music.
