Notable Runner: Could Skyline Medical Inc Change Direction After Touching 52 Week Low?

Notable Runner: Could Skyline Medical Inc Change Direction After Touching 52 Week Low?

The stock of Skyline Medical Inc (NASDAQ:SKLN) hit a new 52-week low and has $1.88 target or 5.00% below today’s $1.98 share price. The 8 months bearish chart indicates high risk for the $3.23 billion company. The 1-year low was reported on Oct, 31 by Barchart.com. If the $1.88 price target is reached, the company will be worth $161.50M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 218,398 shares traded hands or 16.19% up from the average. Skyline Medical Inc (NASDAQ:SKLN) has declined 48.22% since March 29, 2016 and is downtrending. It has underperformed by 51.70% the S&P500.

Analysts await Skyline Medical Inc (NASDAQ:SKLN) to report earnings on November, 21.

According to Zacks Investment Research, “Skyline Medical Inc. is a medical device company. It produces an automated surgical fluid disposal system. The Company has a fully automated surgical fluid disposal device – the Streamway System. Its Streamway System fully automates the collection, measurement and disposal of surgical fluids. Skyline Medical, Inc. is based in Eagan, Minnesota.”

More news for Skyline Medical Inc (NASDAQ:SKLN) were recently published by: Globenewswire.com, which released: “Skyline Medical Effects 1-For-25 Reverse Stock Split” on October 27, 2016. Streetinsider.com‘s article titled: “Skyline Medical (SKLN) Receives Nasdaq Listing Notification; Plans to Request …” and published on October 12, 2016 is yet another important article.

SKLN Company Profile

Skyline Medical Inc., incorporated on April 23, 2002, is a medical device firm that develops and makes The STREAMWAY System, a solution for the collection and disposal of infectious fluids that result from surgical procedures and post-operative care. The Firm distributes these products to hospitals, surgical centers and other medical facilities where bodily and irrigation fluids produced during surgical procedures must be contained, measured, documented and disposed. The Firm also makes and sells two disposable products required for system operation: a bifurcated single procedure filter and tissue trap, and a single use bottle of cleaning solution. Both items are used on a single procedure basis.

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