Can Ocwen Financial Corp (OCN), California Resources Corp (CRC) and Atmel Corporation (ATML) Move Into The Light?
New York, NY – GDP INSIDER – 04/27/2014.
This article discusses three companies: Ocwen Financial Corp (NYSE:OCN), California Resources Corp (NYSE:CRC) and Atmel Corporation (NASDAQ:ATML)
Ocwen Financial Corp (NYSE:OCN) had a relatively slow trading day on Friday with the stock closing down 1.90% or $0.15 to finish the day at $7.74 on very light trading of 1.827 million shares, compared to its three month average trading volume of 6.85 million. The Atlanta-based financial services holding company, which is engaged in the servicing of mortgage loans, has been trending down recently, losing 59.83% over the last six months compared to S&P 500’s gain of 7.79% over the same period, making it a ‘hold’ for now.
California Resources Corp (NYSE:CRC) dropped slightly yesterday closing down 2.01% or eighteen cents at $8.76 on lower than normal trading of 4.099 million shares, compared to its three month average trading volume of 7.94 million. The California-based independent oil and gas exploration and production company currently stands at a monthly performance of 18.81% and a quarterly performance of 116.55%. The stock has also been severely underperforming the S&P 500 for the last 52 week down 70.18% compared to an 13.65% increase in the index, making it a hold.
Atmel Corporation (NASDAQ:ATML) continued to decline on Friday with the stock closing down another 3.80% or $0.31 at $7.85 on light trading of 4.503 million shares, compared to its three month average trading volume of 4.87 million. The microcontroller designer and developer has been fluctuating between $7.80 and $8.92 for the last month with the stock down 6.11% so far this year. With an RSI of 38.84 and forward P/E of 13.53, Atmel Corporation has solid investment potential and if consolidation continues in the semiconductor sector, it should meet and could exceed its current one year target estimate of $8.96, making it a hold for now.
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