The stock of Vecima Networks Inc (TSE:VCM) gapped up by $0.06 today and has $15.39 target or 79.00% above today’s $8.60 share price. The 6 months technical chart setup indicates low risk for the $197.35M company. The gap was reported on Nov, 11 by Barchart.com. If the $15.39 price target is reached, the company will be worth $155.91M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 28,770 shares traded hands. Vecima Networks Inc (TSE:VCM) has declined 29.08% since April 7, 2016 and is downtrending. It has underperformed by 35.22% the S&P500.
Vecima Networks Inc (TSE:VCM) Ratings Coverage
Out of 2 analysts covering Vecima Networks Inc. (TSE:VCM), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Vecima Networks Inc. has been the topic of 2 analyst reports since February 12, 2016 according to StockzIntelligence Inc. On Friday, May 13 the stock rating was downgraded by IBC to “Sector Perform”.
More news for Vecima Networks Inc (TSE:VCM) were recently published by: Marketwired.com, which released: “Vecima Networks Announces Acquisition of Contigo Systems Inc.” on March 04, 2016. Theglobeandmail.com‘s article titled: “Vecima Networks: Under-the-radar, undervalued stock is a cash machine” and published on March 25, 2014 is yet another important article.
Vecima Networks Inc. is engaged in creating technology solutions that allows network service providers to connect people and enterprises to information and entertainment across the world. The company has a market cap of $197.35 million. The Firm is a designer and maker in the broadband cable and wireless network infrastructure market. It has a 8.56 P/E ratio. The Company’s divisions include Video and Broadband, YourLink and Telematics.
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