Undiscovered Jewels? ADTRAN, Inc. (ADTN) and Venaxis Inc (APPY)
New York, NY – GDP INSIDER – 04/23/2014.
This article discusses two companies: ADTRAN, Inc. (NASDAQ:ADTN) and Venaxis Inc (NASDAQ:APPY)
ADTRAN, Inc. (NASDAQ:ADTN) reversed its recent upward trend with the stock hitting a new 52 week low of $16.53 before climbing up slightly to close down 10.36% or $1.92 to finish the day at a closing price of $16.61 on very active trading volume of 4.011 million, compared to its three month average trading volume of 0.678 million. The US-based networking and communication equipment and solutions provider began to drop yesterday after it announced lower-than-expected first quarter 2015 results which also missed market consensus expectations. The company reported quarterly adjusted earnings of 7 cents a shares for the first quarter, missing analysts’ estimates of 8 cents a share by 1 cent a share. Revenue for the second quarter declined 2.9% year over year to $142.8 million, compared to $147.0 million for the same period in the prior year, also missed analysts’ estimates of $146 million by $3.2 million for the quarter. ADTRAN, Inc also announced a quarterly cash dividend payment of $0.09 per common share to be paid on May 21, 2015, payable to shareholders of record at the close of business on May 7, 2015. The largely unwarranted drop has pushed the RSI down to 24.55 and may be worth holding on to, as a near to medium term investment.
Venaxis Inc (NASDAQ:APPY) plummeted yesterday as the stock lost fourteen cents to finish the day at a closing price of $0.56, a 20.14% decline in value from its previous closing price on heavy trading volume of 3.418 million shares, compared to its three month average trading volume of 0.908 million. While the loss may be disappointing, the Venaxis Inc shareholders can take solace in the fact that the stock remains slightly above its 52 week low of $0.40. Venaxis Inc’s drastic decrease in value came despite the fact that the company did not make any significant announcements or release any financial figures. Over the past one week and over the past four weeks, the shares of multi-marker blood test panel developer for emergency department have gained 12.41% and 15.73%, respectively. However, the company has been declining since the beginning of the year and yesterday’s loss has pushed the stock further down 68.42% year to date, compared to the S&P 500, which is up 2.38% for the same period. Overall, Venaxis Inc has good fundamentals and a very strong quick ratio of 13.80 as well as an RSI of 55.51, making it potentially a very good buy if bought at the right time.
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