The Vetr crowd on Wednesday downgraded its rating for Sirius XM Holdings Inc. SIRI from 4 stars (Buy), issued six days ago, to 3 stars (Hold). Crowd sentiment at the time of the downgrade was mostly positive, with 85 percent of Vetr user ratings bullish.
After reaching an all-time high of $5.36 in mid-March only to correct by more than 11 percent over the next few weeks off of a middling Q1 earnings report, share price in Sirius is back on the upswing. The satellite radio company's stock turned around on rumors regarding its potential acquisition of music streaming service Pandora Media Inc P. The stock closed Wednesday at $5.11.
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Currently, the Vetr crowd's average target price for Sirius is up at $5.37, which is still slightly above the average analyst target price of $5.23. Less than 2 percent of Vetr users are holding SIRI in their watch lists.
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