The stock of Imaflex Inc. (CVE:IFX) hit a new 52-week high and has $0.40 target or 3.00% above today’s $0.39 share price. The 9 months bullish chart indicates low risk for the $19.90M company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $0.40 price target is reached, the company will be worth $597,000 more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 27,500 shares traded hands. Imaflex Inc. (CVE:IFX) has risen 6.00% since October 26, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.
More news for Imaflex Inc. (CVE:IFX) were recently published by: Plasticsnews.com, which released: “Imaflex buys rights to Advaseal mulch films” on December 05, 2014. Reuters.com‘s article titled: “BRIEF-Imaflex says CEO Joe Abbandonato to go on medical leave” and published on June 21, 2016 is yet another important article.
Imaflex Inc. specializes in the manufacturing and sale of polyethylene films. The company has a market cap of $19.90 million. The principal activities of the Company and its subsidiary consist in the manufacture and sale of products for the packaging industry, including polyethylene film and bags, as well as the metallization of plastic film for the plasticulture and packaging industries. It has a 17.63 P/E ratio. The Firm operates through the segment of development, manufacture and sale of packaging material in the form of film or bags for various uses.
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