Energy Conversion Devices (ENER) NewsBite - ENER Hits 52-Week Low on Q2 Loss
Posted: Tuesday, February 09, 2010 2:44 PM EDT
By: Market Intelligence Center Staff
Energy Conversion Devices (NASDAQ: ENER) hit a new 52-Week low of $7.80 so far today. The company said this morning that it lost 92 cents per share during the second quarter, much worse than analysts expected. Currently the stock is down $1.08 (-12.15%) to $7.81 on 4,444,690 shares traded. Today's low is down $22.64 from a 52-Week high of $30.45. Energy Conversion Devices stock has been showing support around $8.64 and resistance in the $9.28 range. Technical indicators for the stock are bearish and S&P gives ENER a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on ENER the stock seems like it could be a candidate for a June out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]
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