Shares of Energy Conversion Devices Inc. (NASDAQ: ENER) climbed 2.15% to trade at $4.27 in today’s mid-day trading.
The Energy small cap stock has a 52-week high of $15.69 and it is currently trading below its 50-day and 200-day moving averages of $5.74 and $8.95, respectively. The small cap stock has seen support at $4.06 and has met with resistance at $4.65. The other support levels for the stock are at $3.95 and $3.71.
The consensus recommendation on the small cap stock is Hold. Currently, it has 12 Hold, 3 Underperform and 3 Sell ratings.
Rochester Hills, Michigan-based Energy is involved in the commercialization of materials, products and production processes for the alternative energy generation, information technology and energy storage markets, through its subsidiaries.
For the third quarter, Energy reported total revenue of $72 million, up 10% from the same period last year and 36% from the previous quarter. The company reported a third-quarter net loss of $385 million, or $9.10 per diluted share. Excluding an impairment charge, the company’s third-quarter net loss stood at $27 million, or $0.64 per diluted share. For the same period last year, the company had reported net income of $1 million, or $0.03 per diluted share.
Commenting on third-0quarter financial results, Mark Morelli, president and CEO of Energy, had said that the impairment charge announced in the third quarter reflected changed market conditions. Morelli said that the company closed several large projects in third-quarter and that the company’s business is turning the corner and enhancing its competitive position.
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BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.
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