AgFeed Industries (FEED) NewsBite - FEED Earnings Disappoint

Posted: Tuesday, August 11, 2009 11:09 AM EDT
By: Market Intelligence Center Staff

AgFeed Industries (NGM: FEED) opened at $5.48. So far today, the stock has hit a low of $5.25 and a high of $5.65. FEED is now trading at $5.48, down $0.45 (-7.59%). Over the last 52 weeks the stock has ranged from a low of $.90 to a high of $15.00. FEED reported earnings this morning, posting a second-quarter profit of $1.23 million, or 3 cents per share, on revenue of $38.53 million. Analysts were expecting a profit of 10 cents per share on revenue of $42.90 million. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for FEED. If you are looking for a hedged play on FEED the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]