KIT Digital Stock Falls On Unusually High Volume (KITD)

NEW YORK ( TheStreet) -- KIT Digital (Nasdaq: KITD) is trading at unusually high volume Thursday with 4.3 million shares changing hands. It is currently at 4.8 times its average daily volume and trading down 85 cents (-9.2%) at $8.40 as of 3:34 p.m. ET.

KIT Digital has a market cap of $487.9 million and is part of the services sector and media industry. Shares are up 45% year to date as of the close of trading on Wednesday.

KIT digital, Inc. provides end-to-end video asset management software and related services. It offers KIT platform for managing Internet protocol (IP)-based video assets across the browser, mobile device, and IPTV set-top box enabled television sets.

TheStreet Ratings rates KIT Digital as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and increase in net income. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full KIT Digital Ratings Report.

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