Noteworthy Price Action: What Next for Fifth Street Asset Management Inc After Today’s Gap Down?

Noteworthy Price Action: What Next for Fifth Street Asset Management Inc After Today's Gap Down?

The stock of Fifth Street Asset Management Inc (NASDAQ:FSAM) gapped down by $0.16 today and has $4.50 target or 10.00% below today’s $5.00 share price. The 5 months technical chart setup indicates high risk for the $230.92M company. The gap down was reported on Oct, 4 by Barchart.com. If the $4.50 price target is reached, the company will be worth $23.09 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 9.26% or $0.51 during the last trading session, hitting $5. About 436,665 shares traded hands or 104.63% up from the average. Fifth Street Asset Management Inc (NASDAQ:FSAM) has risen 60.26% since March 1, 2016 and is uptrending. It has outperformed by 48.04% the S&P500.

Analysts await Fifth Street Asset Management Inc (NASDAQ:FSAM) to report earnings on November, 28. They expect $0.12 earnings per share, down 33.33% or $0.06 from last year’s $0.18 per share. FSAM’s profit will be $5.54 million for 10.42 P/E if the $0.12 EPS becomes a reality. After $0.20 actual earnings per share reported by Fifth Street Asset Management Inc for the previous quarter, Wall Street now forecasts -40.00% negative EPS growth.

Fifth Street Asset Management Inc (NASDAQ:FSAM) Ratings Coverage

Out of 3 analysts covering Fifth Street Asset Management (NASDAQ:FSAM), 1 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 33% are positive. Fifth Street Asset Management has been the topic of 10 analyst reports since August 10, 2015 according to StockzIntelligence Inc. Zacks upgraded the shares of FSAM in a report on Monday, August 10 to “Sell” rating. As per Monday, January 25, the company rating was maintained by UBS. The stock has “Mkt Perform” rating given by FBR Capital on Wednesday, November 25. As per Monday, September 14, the company rating was maintained by UBS. The stock has “Buy” rating given by Deutsche Bank on Wednesday, December 16. The rating was downgraded by Zacks on Wednesday, August 19 to “Hold”. As per Thursday, August 25, the company rating was maintained by Deutsche Bank. The firm has “Hold” rating by Zacks given on Thursday, August 27.

According to Zacks Investment Research, “Fifth Street Asset Management Inc. is an alternative asset manager. It provides flexible financing solutions to small and mid-sized companies across their capital structure, primarily in connection with investments by private equity sponsors. Fifth Street Asset Management Inc. is headquartered in Greenwich, Connecticut.”

More notable recent Fifth Street Asset Management Inc (NASDAQ:FSAM) news were published by: Globenewswire.com which released: “Fifth Street Asset Management Inc. Announces Second Quarter 2016 Results” on August 15, 2016, also Finance.Yahoo.com with their article: “Fifth Street Asset Management (FSAM) Shares March Higher, Can It Continue?” published on September 21, 2016, Finance.Yahoo.com published: “3 Reasons Why Fifth Street Asset Management (FSAM) is a Great Momentum Stock” on September 07, 2016. More interesting news about Fifth Street Asset Management Inc (NASDAQ:FSAM) were released by: Seekingalpha.com and their article: “Fifth Street Asset Management’s (FSAM) CEO Leonard Tannenbaum on Q2 2016 …” published on August 17, 2016 as well as Globenewswire.com‘s news article titled: “Fifth Street Asset Management Inc. Announces Agreement Between Fifth Street …” with publication date: February 19, 2016.

FSAM Company Profile

Fifth Street Asset Management Inc., incorporated on May 8, 2014, is an alternative asset manager. The Firm provides asset management services to its investment funds (the Fifth Street Funds or the funds), which consist of Fifth Street Finance Corp. (FSC) and Fifth Street Senior Floating Rate Corp. (FSFR), both publicly-traded business development companies (together, the BDCs). The Company’s segment provides asset management services to the Fifth Street Funds. The Firm conducts all of its activities through its subsidiaries, Fifth Street Management LLC (FSM), Fifth Street CLO Management LLC (CLO Management) and FSCO GP LLC (FSCO GP). The funds, managed by the Company, provide financing solutions to small and mid-sized companies across their capital structures, mainly in connection with investments by private equity sponsors. The Firm provides credit solutions across the capital structure, including one-stop financing, unitranche debt, senior secured debt, mezzanine debt, equity co-investments and venture debt financing. The Firm has over $6.3 billion of assets under management.

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