The stock of Scottish Pacific Group Ltd (ASX:SCO) hit a new 52-week low and has $2.27 target or 5.00% below today’s $2.39 share price. The 7 months bearish chart indicates high risk for the $332.67 million company. The 1-year low was reported on Nov, 22 by Barchart.com. If the $2.27 price target is reached, the company will be worth $16.63 million 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. The stock decreased 4.78% or $0.12 on November 22, hitting $2.39. About 1.23M shares traded hands or 238.19% up from the average. Scottish Pacific Group Ltd (ASX:SCO) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.
More news for Scottish Pacific Group Ltd (ASX:SCO) were recently published by: Fool.com.Au, which released: “Why the Scottish Pacific Group Ltd share price crashed today” on November 14, 2016. Reuters.com‘s article titled: “Tale of two listings as Australian investors shun PE-backed IPO” and published on November 16, 2016 is yet another important article.
Scottish Pacific Group Limited is engaged in providing specialized financial services. The company has a market cap of $332.67 million. The Firm provides working capital to businesses operating in Australia, New Zealand and the United Kingdom. It has a 3319.44 P/E ratio. The Company’s divisions include Debtor Finance and Trade Finance.
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