Loop Media price target lowered to $1.50 from $3.75 at Roth MKM

Roth MKM lowered the firm’s price target on Loop Media to $1.50 from $3.75 but keeps a Buy rating on the shares. The stock took a tumble post-Q3 earnings, falling about 80% since the beginning of August, and much of this has to do with concerns around cash burn, indebtedness, and its overall balance sheet, along with the lingering two-fold impact from softer advertising and speedbumps with educating advertisers about LPTV‘s OTT/CTV segment, the analyst tells investors in a research note. Roth MKM adds however that Loop Media has started to see better monetization relative to the March and June quarters, and while the company is not out of the woods yet, “better days are ahead”.