Salem Communications Corporation (NGM:SALM) (TREND ANALYSIS) shares were traded with thin volume. The stock closed last trading session at $7.18, up by 4.82%, with a volume of 17,062 shares against an average volume for the last 3 months of 34,160.

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Salem Communications Corporation (NGM:SALM) is currently trading 34.73% below its 52-week-high, 42.46% above its 52-week-low. The 1-year range for the stock is $5.04 – $11. Salem Communications Corporation (SALM) has a price to earnings ratio of 16.59 versus SP 500 average of 17.42. The stock price has underperformed the SP 500 by 8.9%. SALM is currently valued at $0.18 billion and closed the last trading session at $7.18. The stock has a 50-day moving average of $7.4 and a 200-day moving average of $7.75.

Salem Communications Corporation (SALM) current short interest stands at 201 thousands shares. It has decreased by 4% from the same period of last month. Around 2% of the company’s shares, which are float, are short sold. With a 10-days average volume of 36.47 thousands shares, the number of days required to cover the short positions stand at 5.5 days.

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There are currently two analysts that cover SALM. Of those two, two have a Buy rating, . On a consensus basis this yields to a Buy rating. The consensus target price stands at $11.

A recent analyst activity consisted of Noble Financial who initiated their coverage on the stock with a Buy rating on October 7. Noble Financial fixed their price target at $11. This corresponds to a 53.2% upside from the last closing price. On the date of report, the stock closed at $7.48.

Company profile

Salem Communications Corporation is a radio broadcasting company that provides programming targeted at audiences interested in religious and family issues. The Company owns and operates radio stations in large metropolitan markets. Salem also operates Salem Radio Network, a national radio network offering syndicated talk, news, and music programming to affiliated radio stations.