Inspired Entertainment Inc. (INSE) shares plunge 4.70% to lowest since November 2023

Inspired Entertainment Inc. (INSE) shares plunged 4.70% today, marking the fourth consecutive day of decline, with a cumulative drop of 22.93% over the past four days. The stock price hit its lowest level since November 2023, experiencing an intraday decline of 7.26%.

Inspired Entertainment's stock price has been influenced by several factors recently. The company received a bullish rating from B. Riley, which highlighted its multiple growth channels. This rating likely contributed to positive investor sentiment. Additionally, B. Riley set a "Buy" rating on Inspired Entertainment's stock with a target price of $13. This rating, along with the company's strong fourth-quarter earnings, has positively impacted the stock's outlook. The company reported revenue of $83 million for the fourth quarter, surpassing analyst estimates of $81.36 million. This strong performance has likely bolstered investor confidence in the company's future prospects.