3 Stocks Trading Below 20-Day SMA: Molycorp Inc (MCP), ChannelAdvisor Corp (ECOM), And Ocwen Financial Corp (OCN)
New York, NY – GDP INSIDER – 01/28/2015.
Molycorp Inc (NYSE:MCP) closed yesterday’s session at $0.359, after gaining 2.63%. However, despite the gain, the stock still trades 41.34% below its 20-Day SMA. Investors exchanged 4.3 million shares of MCP during yesterday’s session, a volume that was relatively large, but fell below the average daily volume of 4.76 million shares. MCP traded in the range of $0.33 and $0.36, ending the day 2.34% above the opening price and 93.61% below the 52-week high.
Molycorp Inc (NYSE:MCP) was downgraded to “Neutral” from “Buy” by analysts at DA Davidson. The analysts cited that the stock is a major concern.
The company was recently said to have hired an advisor to help it restructure its debt. Analysts are worried about the possible consequences of continued cash burn in MCP.
ChannelAdvisor Corp (NYSE:ECOM) saw its shares trending down 4.02% to $9.56. The loss pushed the stock further down below its 20-Day SMA. ECOM ended the session 40.02% below its 20-DAY SMA. Investors exchanged 301,191 shares compared to average daily volume of 781,573. The stock traded in the range of $9.47 to $9.81 to close 1.75% below the opening price and 80.84% below the 52-week high.
Sales at ChannelAdvisor Corp (NYSE:ECOM) increased 26.50% sequentially in the most recent quarter. Insiders own 1.5% of ECOM, according to the latest disclosure.
Ocwen Financial Corp (NYSE:OCN) traded south 3.47% to end the session at $6.67, a price that put the stock 39.42% below its 20-Day SMA. The shares of OCN traded in the range of $6.61 to $7.00 on the day, which was characterized by low volume. The stock opened at $6.82, but ended the session 2.20% below that mark.
Ocwen Financial Corp (NYSE:OCN) recently agreed to pay $2.5 million in a mortgage settlement agreement with a Californian regulatory agency. The company is fighting efforts by a group of investors to remove it as a servicer of mortgage-backed securities.
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