Sirius XM Radio Inc (NASDAQ:SIRI)’s stock trading down

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Dallas, Texas 07/29/2013 (Financialstrend) – For the recent quarter that ended on June 30, 2013, Sirius XM Radio Inc (NASDAQ:SIRI) had reported revenues that had managed to surpass the expectations of the analysts on the Wall Street. This fast growing subscription media company had reported revenues at $940 million, which proved to be the strongest ever reported in its history and had further generated earnings at $283 million after due adjustments for taxes, payback and down grading. This was observed to be an increase of 19% in the adjusted earnings that were reported for the same quarter of previous year.

The Chief Executive Officer of the company had reported that there were presently around 54.5 million automobiles in operation with the company’s Sirius installed into the set up. He further commented that this number is anticipated to increase to the level of 100 million by the end of the year 2017. Such strong results reported for the quarter and the increase in installations for the company’s products had recently been surging the share prices of the stock.

The share of Sirius XM Radio Inc (NASDAQ:SIRI) was bearish by 0.66% on Friday to close down for the day with $3.76 per share. The company had recorded the trading day low price of $3.72 and high price of $3.81 on Friday. For the last twelve months of trading, the low price of the stock is at $2.09 and high price of the stock is at $3.81 per share. Currently there are 6.25 billion shares of the company outstanding in the market and 29% institutional ownership. The trading volume of the company on Friday was 41.87 million shares and the trading volume over the past 30 days of the company was 62.25 million shares per day. The total market value of the company is 23.46 billion.