Energy Conversion Devices (ENER) NewsBite - ENER Sinks After Withdrawing Guidance
Posted: Tuesday, March 17, 2009 10:40 AM EDT
By: Market Intelligence Center Staff
Energy Conversion Devices (NasdaqNM: ENER) opened at $13.56. So far today, the stock has hit a low of $12.85 and a high of $14.85. ENER is now trading at $14.00, down $4.43 (-24.04%). Over the last 52 weeks the stock has ranged from a low of $16.00 to a high of $83.33. ENER shares are sinking today after the company withdrew its quarterly and yearly guidance, citing the effect of the weak economy on demand. On the news, a Jeffries & Co. analyst downgraded the stock to Hold from Buy. Technical indicators for the stock are neutral and S&P gives ENER a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ENER the stock seems like it could be a candidate for an April out-of-the-money bear-call credit spread above the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Energy Conversion Devices (ENER) Stock ReportSee what our analysts have uncovered about Energy Conversion Devices (ENER).