The stock of Lumenpulse Inc (TSE:LMP) gapped up by $0.05 today and has $43.92 target or 178.00% above today’s $15.80 share price. The 6 months technical chart setup indicates low risk for the $404.53 million company. The gap was reported on Nov, 16 by Barchart.com. If the $43.92 price target is reached, the company will be worth $720.06M 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 17,338 shares traded hands or 36.25% up from the average. Lumenpulse Inc (TSE:LMP) has declined 2.97% since April 12, 2016 and is downtrending. It has underperformed by 7.65% the S&P500.
Lumenpulse Inc (TSE:LMP) Ratings Coverage
Out of 5 analysts covering Lumenpulse Inc (TSE:LMP), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. $25 is the highest target while $16.50 is the lowest. The $19.40 average target is 22.78% above today’s ($15.8) stock price. Lumenpulse Inc has been the topic of 13 analyst reports since September 11, 2015 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, December 4. RBC Capital Markets maintained Lumenpulse Inc (TSE:LMP) on Wednesday, October 7 with “Outperform” rating. As per Friday, September 9, the company rating was maintained by Scotia Capital. Scotia Capital maintained it with “Sector Perform” rating and $19 target price in Friday, June 17 report. RBC Capital Markets maintained Lumenpulse Inc (TSE:LMP) rating on Friday, September 2. RBC Capital Markets has “Outperform” rating and $21 price target.
More recent Lumenpulse Inc (TSE:LMP) news were published by: Marketwired.com which released: “Lumenpulse Acquires Fluxwerx Illumination” on March 10, 2016. Also Business.Financialpost.com published the news titled: “Lumenpulse off to bright start in $100-million initial public offering” on April 15, 2014. Business.Financialpost.com‘s news article titled: “Newly public Lumenpulse didn’t need the ‘distraction’ of private equity” with publication date: April 17, 2014 was also an interesting one.
Lumenpulse Inc. is engaged in the design, development, assembly and sale of lighting products. The company has a market cap of $404.53 million. The Firm operates in two divisions: Lumenpulse LED products and other manufacturers’ products (OMP). It has a 296.94 P/E ratio. The Company’s LP divisions’ products consist of light-emitting diode (LED) lighting solutions.
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