Energy Conversion Devices (ENER) NewsBite - ENER Rises With Solar Sector

Posted on Monday, June 30, 2008 10:10 AM

Energy Conversion Devices (ENER) opened at $71.71. So far today the stock has hit a low of $71.65 and a high of $75.72. ENER is now trading at $73.81, up 2.49 (3.49%). After hitting a one-year low of $20.47 in January, the stock hit a one-year high of $83.33 last week. ENER shares are trading higher this morning with the solar sector, as crude-oil futures hit an all-time high of $143.67 a barrel in morning trading. Higher oil prices have boosted investors' hopes that alternative energy industries will become more attractive to consumers. Technical indicators for ENER are bullish and deteriorating slightly, while S&P gives the stock a neutral 3 Stars (out of 5) Hold rating. If you’re looking for a hedged play on this stock, consider an August bull-put credit spread below the $50 range. ENER hasn't been below 50 since early May, and could lose up to 32.2% before this trade loses money. [LHF- Seven Summits Strategic Investments NewsBite]