Price Action To Observe: Could Ballantyne Strong Inc Lose its Strength? The Stock Reaches 52-Week High

Price Action To Observe: Could Ballantyne Strong Inc Lose its Strength? The Stock Reaches 52 Week High

The stock of Ballantyne Strong Inc (NYSEMKT:BTN) hit a new 52-week high and has $7.83 target or 8.00% above today’s $7.25 share price. The 6 months bullish chart indicates low risk for the $100.37 million company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $7.83 price target is reached, the company will be worth $8.03 million 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 59,263 shares traded hands or 192.57% up from the average. Ballantyne Strong Inc (NYSEMKT:BTN) has risen 47.83% since April 26, 2016 and is uptrending. It has outperformed by 42.57% the S&P500.

Analysts await Ballantyne Strong Inc (NYSEMKT:BTN) to report earnings on March, 6.

According to Zacks Investment Research, “Ballantyne is a provider of motion picture projection, digital cinema projection and specialty lighting equipment and services. It supplies major theater chains, top arenas, television and motion picture production studios, theme parks and architectural sites around the world. Formerly Ballantyne of Omaha, Inc., the company is a world-class manufacturer of commercial motion picture equipment and entertainment lighting systems. Marketed under the Strong brand name, the company’s products enjoy worldwide recognition. It primarily operates within two business segments: theatre and lighting. The Company has three wholly owned operational subsidiaries: Strong Westrex, Inc., Strong Technical Services, Inc. and Strong Digital Systems, Inc.”

Insitutional Activity: The institutional sentiment increased to 1.42 in 2016 Q2. Its up 0.50, from 0.92 in 2016Q1. The ratio is positive, as 5 funds sold all Ballantyne Strong Inc shares owned while 7 reduced positions. 4 funds bought stakes while 7 increased positions. They now own 5.24 million shares or 18.80% less from 6.46 million shares in 2016Q1.
Bridgeway Mngmt, a Texas-based fund reported 134,920 shares. Geode Ltd Limited Liability Company accumulated 65,729 shares or 0% of the stock. Ancora Advsr Limited Liability Co holds 0.08% or 134,819 shares in its portfolio. Wells Fargo & Mn last reported 2,500 shares in the company. The New York-based Citigroup has invested 0% in Ballantyne Strong Inc (NYSEMKT:BTN). Perritt Cap Mngmt reported 189,900 shares or 0.26% of all its holdings. Walleye Trading Limited Com holds 0% of its portfolio in Ballantyne Strong Inc (NYSEMKT:BTN) for 683 shares. Northern Trust holds 22,292 shares or 0% of its portfolio. Blackrock Inv Management Ltd Liability Corp holds 1,928 shares or 0% of its portfolio. Ariel Lc last reported 1.80M shares in the company. Moreover, Savings Bank Of Mellon has 0% invested in Ballantyne Strong Inc (NYSEMKT:BTN) for 21,312 shares. Moreover, Ny State Common Retirement Fund has 0% invested in Ballantyne Strong Inc (NYSEMKT:BTN) for 222,872 shares. Blackrock Fund Advsr has 30,000 shares for 0% of their US portfolio. Renaissance Technologies Limited Liability Corporation holds 473,495 shares or 0% of its portfolio. Mufg Americas has invested 0% of its portfolio in Ballantyne Strong Inc (NYSEMKT:BTN).

Insider Transactions: Since June 7, 2016, the stock had 7 insider purchases, and 0 selling transactions for $331,997 net activity. $88,990 worth of Ballantyne Strong Inc (NYSEMKT:BTN) was bought by Fundamental Global Investors – LLC. 14,894 shares were bought by Cerminara Kyle, worth $99,878. Schilling Stephen L. bought $5,160 worth of Ballantyne Strong Inc (NYSEMKT:BTN) on Friday, November 11. Roschman Robert J bought 1,413 shares worth $8,591.

More notable recent Ballantyne Strong Inc (NYSEMKT:BTN) news were published by: Seekingalpha.com which released: “Ballantyne Strong: Still Interesting But Downside Protection Decreasing” on November 11, 2016, also Seekingalpha.com with their article: “Cash Is King: Activists Target Ballantyne Strong, Inc.” published on September 23, 2016, Businesswire.com published: “Ballantyne Strong Announces Management Team Changes” on November 03, 2015. More interesting news about Ballantyne Strong Inc (NYSEMKT:BTN) were released by: Seekingalpha.com and their article: “Ballantyne Strong: Adjusted Bottom Line Is Showing Promise” published on August 16, 2016 as well as Businesswire.com‘s news article titled: “Ballantyne Strong Sells Assets of Lighting Business to Syncrolite” with publication date: December 22, 2015.

BTN Company Profile

Ballantyne Strong, Inc., incorporated on May 30, 1995, is a holding company. The Company’s business activities focus on serving the cinema, retail, financial and government markets. The Firm and its subsidiaries design, integrate and install technology solutions for a range of applications; develop and deliver out-of-home messaging, advertising and communications; manufacture projection screens, and provide managed services, including monitoring of networked equipment to its customers. The Firm operates through two divisions: Cinema and Digital Media. The Company’s Cinema activities include the sale of digital projection equipment, screens, and sound systems. The Company’s Digital Media activities include the delivery of end-to-end digital signage solutions, video communication solutions, content creation, and management and service of digital signage and digital cinema equipment. The Company’s products are distributed to the retail, financial, government and cinema markets throughout the world.

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