China Finance Online (NASDAQ:JRJC) Stock Price Down 10.9%

China Finance Online Co. (NASDAQ:JRJC) dropped 10.9% on Friday . The company traded as low as $0.90 and last traded at $0.90. Approximately 1,258 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 36,579 shares. The stock had previously closed at $1.01.

China Finance Online (NASDAQ:JRJC) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported ($0.19) earnings per share for the quarter. China Finance Online had a negative return on equity of 59.15% and a negative net margin of 43.87%. The business had revenue of $10.66 million during the quarter.

A hedge fund recently raised its stake in China Finance Online stock. Morgan Stanley increased its holdings in China Finance Online Co. (NASDAQ:JRJC) by 16.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 635,508 shares of the financial services provider’s stock after acquiring an additional 89,409 shares during the period. Morgan Stanley owned about 2.69% of China Finance Online worth $940,000 at the end of the most recent quarter.

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About China Finance Online (NASDAQ:JRJC)

China Finance Online Co Limited provides Web-based financial services in the People's Republic of China and Hong Kong. The company operates through three segments: Commodities Brokerage Services; Online Financial Information and Advisory Service, and Other Related Services; and Hong Kong Brokerage Services.

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