Alvarion (ALVR) NewsBite - Alvarion Tumbles on Downgrade

Posted on Thursday, November 01, 2007 2:11 PM

Alvarion Ltd. (ALVR) opened at 12.28. So far today, the stock has hit a low of 11.26 and a high of 12.35. ALVR is now trading at 11.35, down 1.23 (-10.02%). The stock hit its 52 week high of 15.21 in October and set its 52 week low of 6.03 in January. ALVR has been generally up for the past year. Alvarion shares have been falling today after a Merriman, Curhan, Ford & Co. analyst downgraded the stock to "Neutral" from "Buy," citing worries the company cannot compete in the global telecom sector. Technical indicators for the stock are bullish but slightly deteriorating while S&P gives ALVR a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged trade on this stock, consider a January bear-put credit spread above the $15 level. ALVR stock could rise up to 32.2% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]