Time To Dump These Slumping Stocks? Giga-tronics, Incorporated (GIGA) and Eleven Biotherapeutics Inc (EBIO)
New York, NY – GDP INSIDER – 05/21/2015.
This article discusses three companies: Giga-tronics, Incorporated (NASDAQ:GIGA) and Eleven Biotherapeutics Inc (NASDAQ:EBIO)
Giga-tronics, Incorporated (NASDAQ:GIGA) suffered a decline yesterday as the stock lost $0.44 to finish the day at a closing price of $2.30, a 16.06% decline in value from its previous closing price of $2.74. While the loss may be disappointing, Giga-tronics, Incorporated stockholders can take solace in the fact that the stock remains above its 52 week low of $1.20. The company’s volume spiked to a figure of 2, 885, 934, which is significantly higher than its three month average of 508, 380, after investors took profits following the release of its Q4 FY15 earnings on Monday. The company is currently trading 35.01% above its 50 day moving average of $1.71 and 28.39% above its 200 day moving average of $1.79. The navigational systems manufacturer has gained 85.48% over the past one year, far outstripping the performance of S&P 500 which has only gained 12.33% over the same period. The RSI and MFI are 56.87 and 75.40, respectively. Both of these indicate that the stock is not overvalued at the current levels and the money is flowing in the right direction, making it a hold for now.
Eleven Biotherapeutics Inc (NASDAQ:EBIO) declined yesterday with the stock hitting a new one year low of $2.73 before recovering to $2.94 by the end of trading, down 9.26% or $0.30 on heavy trading of 2.578 million shares compared with its three month average trading volume of 0.407 million. After yesterday’s loss, the stock is now trading 71.58% below its 50 day moving average of $10.18 and 73.63% away from its 200 day moving average of $11.11. The clinical stage biopharmaceutical company, which focuses on the development of protein therapeutics, has been trading within a fairly wide range of $2.78 and $13.78 for the last month and has been showing no signs of breaking out from this so far. Overall, the stock is down over 73% over the last 52 weeks and has been vastly underperforming the S&P 500 which is up 12% over the same period. With its MACD diverging in bearish direction and RSI at 16.76, it is starting to look like a very good potential purchase, making it a buy at this time.
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