ValueClick (VCLK) NewsBite - Downgrade Puts Pressure on ValueClick

Posted on Monday, March 10, 2008 1:45 PM

ValueClick Inc. (VCLK) opened at 17.07. So far today, the stock has hit a low of 16.31 and a high of 17.09. VCLK is now trading at 16.40, down 1.06 (-6.21%). The stock hit its 52 week high of 36.70 in May and set its 52 week low of 16.31 today. VCLK has been trading lower since May of last year. Shares of ValueClick have been tumbling to a new year low after an Oppenheimer & Co. analyst downgraded the stock to "Perform" from "Outperform." The broker also cut price target to $22 from $31. Technical indicators for the stock are bearish and steady while S&P gives VCLK a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a June bear-call credit spread above the $25 range. VCLK stock could fall up to 52.4% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]