Notable Mover: What’s Propelling EarthLink Holdings Corp. to Reach 52 Week Low?

Notable Mover: What's Propelling EarthLink Holdings Corp. to Reach 52 Week Low?

The stock of EarthLink Holdings Corp. (NASDAQ:ELNK) hit a new 52-week low and has $4.56 target or 8.00% below today’s $4.96 share price. The 6 months bearish chart indicates high risk for the $534.83M company. The 1-year low was reported on Nov, 10 by Barchart.com. If the $4.56 price target is reached, the company will be worth $42.79 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. About 2.30M shares traded hands or 255.97% up from the average. EarthLink Holdings Corp. (NASDAQ:ELNK) has declined 7.82% since April 8, 2016 and is downtrending. It has underperformed by 13.47% the S&P500.

EarthLink Holdings Corp. (NASDAQ:ELNK) Ratings Coverage

Out of 4 analysts covering EarthLink Inc (NASDAQ:ELNK), 1 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 25% are positive. $10 is the highest target while $7 is the lowest. The $8.50 average target is 71.37% above today’s ($4.96) stock price. EarthLink Inc has been the topic of 4 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by Northland Capital on Tuesday, September 15. The firm has “Hold” rating by Drexel Hamilton given on Tuesday, November 8. Mitsubishi UFJ downgraded the stock to “Underweight” rating in Friday, June 10 report.

According to Zacks Investment Research, “EarthLink Holdings Corp. provides IT services and communications to business and residential customers primarily in the United States. The company’s services consists of cloud computing, managed and private cloud, virtualization services such as managed hosting and cloud workspace, IT security, application hosting, colocation and IT support services. It also offers data and voice IP services. EarthLink Holdings Corp., formerly known as EarthLink, Inc., is headquartered in Atlanta, GA.”

Insitutional Activity: The institutional sentiment increased to 1.29 in 2016 Q2. Its up 0.33, from 0.96 in 2016Q1. The ratio improved, as 16 funds sold all EarthLink Holdings Corp. shares owned while 52 reduced positions. 21 funds bought stakes while 67 increased positions. They now own 92.99 million shares or 2.14% less from 95.02 million shares in 2016Q1.
Ajo L P last reported 1.37 million shares in the company. Airain holds 0.03% of its portfolio in EarthLink Holdings Corp. (NASDAQ:ELNK) for 75,124 shares. Millennium Mgmt Limited Liability Company holds 0.02% or 1.24 million shares in its portfolio. Goldman Sachs Group accumulated 1.30 million shares or 0% of the stock. Ahl Prtnrs Llp, a United Kingdom-based fund reported 25,795 shares. Swiss Savings Bank has 179,100 shares for 0% of their US portfolio. Teacher Retirement Systems Of Texas has 0% invested in the company for 14,567 shares. Connor Clark Lunn Management Ltd accumulated 0.06% or 1.26M shares. Chem National Bank & Trust last reported 0.02% of its portfolio in the stock. Glenmede Tru Co Na last reported 233 shares in the company. Blackrock holds 89,952 shares or 0% of its portfolio. Winslow Evans Crocker holds 600 shares or 0% of its portfolio. Shell Asset Co accumulated 271,077 shares or 0.04% of the stock. Axa has 342,200 shares for 0.01% of their US portfolio. Profund Advsrs Limited Liability Co has 77,523 shares for 0.02% of their US portfolio.

Insider Transactions: Since May 27, 2016, the stock had 0 insider purchases, and 2 selling transactions for $298,562 net activity. $99,173 worth of shares were sold by Thurston R Michael on Friday, May 27. The insider Froehlich Rick C sold $199,389.

More recent EarthLink Holdings Corp. (NASDAQ:ELNK) news were published by: Fool.com which released: “Why EarthLink Holdings Corp. Stock Is Down” on November 07, 2016. Also Investorplace.com published the news titled: “Why EarthLink Holdings Corp. (ELNK), GoPro Inc (GPRO) and Barrick Gold …” on November 07, 2016. Businesswire.com‘s news article titled: “EARTHLINK HOLDINGS CORP. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces …” with publication date: November 07, 2016 was also an interesting one.

ELNK Company Profile

EarthLink Holdings Corp., incorporated on December 3, 2013, is a well-known provider of managed network, security and cloud services to business and residential clients in the United States. The Firm provides a range of data, voice and managed network services to retail and wholesale business customers. The Company’s divisions are Enterprise/Mid-Market, Small Business, Carrier/Transport and Consumer Services. The Firm operates a network of approximately 29,000 route miles of fiber and over 90 metro fiber rings that provide data and voice Internet Protocol (IP) service coverage.

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