The stock of Edgewater Technology Inc. (NASDAQ:EDGW) hit a new 52-week low and has $6.34 target or 11.00% below today’s $7.12 share price. The 7 months bearish chart indicates high risk for the $89.83M company. The 1-year low was reported on Nov, 14 by Barchart.com. If the $6.34 price target is reached, the company will be worth $9.88 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 10,429 shares traded hands or 0.10% up from the average. Edgewater Technology Inc. (NASDAQ:EDGW) has declined 2.56% since April 12, 2016 and is downtrending. It has underperformed by 7.54% the S&P500.
According to Zacks Investment Research, “Edgewater Technology Inc. is an e-business consulting and systems integration firm that specializes in providing middle-market companies with tailored solutions for today’s Internet-centric environment. Edgewater has taken a partnership approach with its clients, targeting strategic, mission-critical applications. Edgewater Technology services its client base by leveraging a combination of leading-edge technologies and proven reengineering techniques provided by its network of national solutions centers strategically positioned across the United States.”
Insitutional Activity: The institutional sentiment decreased to 1.33 in 2016 Q2. Its down 0.10, from 1.43 in 2016Q1. The ratio worsened, as 4 funds sold all Edgewater Technology Inc. shares owned while 5 reduced positions. 3 funds bought stakes while 9 increased positions. They now own 7.48 million shares or 3.89% more from 7.20 million shares in 2016Q1.
Teton Incorporated has invested 0.55% of its portfolio in Edgewater Technology Inc. (NASDAQ:EDGW). Creative Planning holds 0% or 4,576 shares in its portfolio. California Pub Employees Retirement Sys, a California-based fund reported 51,545 shares. Manchester Ltd Company owns 12,645 shares or 0.02% of their US portfolio. The New York-based Gabelli Funds Limited Liability Company has invested 0.03% in Edgewater Technology Inc. (NASDAQ:EDGW). Blackrock Fund Advisors has 0% invested in the company for 27,062 shares. The Illinois-based Northern Tru Corp has invested 0% in Edgewater Technology Inc. (NASDAQ:EDGW). Homrich & Berg accumulated 0.02% or 20,500 shares. Renaissance Ltd Liability accumulated 0.01% or 561,400 shares. Beaumont Partners Limited Liability Company reported 29,822 shares or 0.04% of all its holdings. Clarivest Asset Limited holds 15,896 shares or 0% of its portfolio. Dimensional Fund Advisors Ltd Partnership holds 0% of its portfolio in Edgewater Technology Inc. (NASDAQ:EDGW) for 988,467 shares. Royal Bancshares Of Canada reported 24,700 shares or 0% of all its holdings. Morgan Stanley has invested 0% of its portfolio in Edgewater Technology Inc. (NASDAQ:EDGW). Moreover, Wells Fargo & Mn has 0% invested in Edgewater Technology Inc. (NASDAQ:EDGW) for 1 shares.
More notable recent Edgewater Technology Inc. (NASDAQ:EDGW) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on December 21, 2009, also Seekingalpha.com with their article: “Edgewater Technology: Cash Cow For Cheap” published on April 14, 2015, Prnewswire.com published: “AMERI Offers to Merge with Edgewater Technology” on October 26, 2015. More interesting news about Edgewater Technology Inc. (NASDAQ:EDGW) were released by: Seekingalpha.com and their article: “A Look At Edgewater Technology (EDGW)” published on January 04, 2015 as well as Seekingalpha.com‘s news article titled: “Edgewater Technology’s (EDGW) CEO Shirley Singleton on Q3 2016 Results …” with publication date: November 02, 2016.
EDGW Company Profile
Edgewater Technology, Inc. (Edgewater), incorporated on June 27, 2000, is a well-known provider of transformational classic and product consulting services. The Firm helps the C-suite drive transformational change through its selection of business and technology services, and channel solutions. The classic consulting disciplines are blended with technical services to help organizations leverage investments in legacy information technology (IT) assets. Edgewater offers a range of consulting services, such as Classic Consulting and Product-Based Consulting. In addition, the Company also provides synergistic services in the area of data management and analytics, such as enterprise information management services and analytics services. Delivering both on premise and in the cloud, the Company offers over two channel services. In the Oracle channel, Edgewater Ranzal provides Business Analytics solutions leveraging Oracle Enterprise Performance Management (EPM), Business Intelligence (BI) and Big Data technologies. In the Microsoft channel, Edgewater Fullscope delivers Dynamics AX Enterprise Resource Planning (ERP), Business Intelligence and customer relationship management (CRM) solutions primarily in the manufacturing space.
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