Omniture (OMTR) NewsBite: Omniture Sells Off On Downgrade

Posted on Monday, March 31, 2008 2:07 PM

Omniture Inc. (OMTR) opened at 23.03. So far today, the stock has hit a low of 22.50 and a high of 23.63. OMTR is now trading at 23.04, down 1.32 (-5.71%). The stock hit its 52 week high of 38.57 in October and set its 52 week low of 15.50 in May. The stock has been trading lower over the past three months. The stock was downgraded this morning by Broadpoint Capital from a "strong buy" to a "buy". Technical indicators for the stock are neutral and strongly improving. If you’re looking for a hedged play on this stock, consider a September bear-call credit spread above the $35 range. OMTR stock could rise up to 52.5% before expiration and this position would still be profitable. [RHF- Seven Summits Strategic Investments NewsBite]