Could Aegion Corp (AEGN) Decrease Even More? The Stock Formed Double Bottom Chart Pattern

September 17, 2017 - By Winifred Garcia

Investors sentiment increased to 1.27 in Q4 2016. Its up 0.16, from 1.11 in 2016Q3. It improved, as 12 investors sold Aegion Corp shares while 50 reduced holdings. 32 funds opened positions while 47 raised stakes. 29.81 million shares or 0.67% less from 30.02 million shares in 2016Q3 were reported.
Bridgeway Capital Mngmt invested in 0.07% or 219,641 shares. Aperio Ltd Liability Corp invested 0% of its portfolio in Aegion Corp (NASDAQ:AEGN). Gabelli Funds Limited Liability reported 30,000 shares or 0% of all its holdings. Tocqueville Asset Mgmt L P holds 0.09% of its portfolio in Aegion Corp (NASDAQ:AEGN) for 297,550 shares. Hl Services Limited Liability owns 34,007 shares for 0.02% of their portfolio. Comerica Fincl Bank has invested 0.01% in Aegion Corp (NASDAQ:AEGN). Blackrock Investment Management Llc has invested 0.01% of its portfolio in Aegion Corp (NASDAQ:AEGN). The New York-based Prelude Capital Mgmt Llc has invested 0.01% in Aegion Corp (NASDAQ:AEGN). Rhumbline Advisers reported 0% in Aegion Corp (NASDAQ:AEGN). Moreover, Dimensional Fund Advisors Limited Partnership has 0.04% invested in Aegion Corp (NASDAQ:AEGN) for 3.01M shares. Blackrock reported 163,472 shares. New York State Common Retirement Fund reported 0% stake. Duncker Streett Com Incorporated owns 3,600 shares. 19,000 are held by Ahl Partners Limited Liability Partnership. Marshall Wace Ltd Liability Partnership owns 13,517 shares.

The chart of Aegion Corp (AEGN) shows a double bottom with $20.94 target or 6.00 % below today’s $22.28 share price. The 9 months chart pattern indicates high risk for the $735.51 million company. It was reported on Sep, 17 by If the $20.94 price target is reached, the company will be worth $44.13M less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.22% or $0.05 on September 15, reaching $22.28. About 510,752 shares traded or 177.63% up from the average. Aegion Corp (NASDAQ:AEGN) has risen 2.91% since September 17, 2016 and is uptrending. It has underperformed by 13.79% the S&P500.

Analysts await Aegion Corp (NASDAQ:AEGN) to report earnings on October, 30. They expect $0.42 earnings per share, up 31.25 % or $0.10 from last year’s $0.32 per share. AEGN’s profit will be $13.87 million for 13.26 P/E if the $0.42 EPS becomes a reality. After $0.34 actual earnings per share reported by Aegion Corp for the previous quarter, Wall Street now forecasts 23.53 % EPS growth.

Aegion Corp (NASDAQ:AEGN) Ratings Coverage

Among 4 analysts covering Aegion (NASDAQ:AEGN), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. Aegion had 13 analyst reports since January 5, 2016 according to SRatingsIntel. Craig Hallum upgraded Aegion Corp (NASDAQ:AEGN) on Tuesday, May 23 to “Buy” rating. The company was maintained on Thursday, August 3 by Canaccord Genuity. The stock has “Hold” rating by Stifel Nicolaus on Tuesday, January 5. The stock of Aegion Corp (NASDAQ:AEGN) has “Hold” rating given on Monday, August 7 by Stifel Nicolaus. The rating was initiated by Sidoti with “Buy” on Tuesday, January 19. The firm has “Neutral” rating by Sidoti given on Wednesday, August 2. The firm has “Buy” rating given on Tuesday, November 22 by Sidoti. The rating was maintained by Canaccord Genuity on Thursday, August 10 with “Buy”. Canaccord Genuity maintained the stock with “Buy” rating in Thursday, September 7 report. The stock of Aegion Corp (NASDAQ:AEGN) earned “Neutral” rating by Sidoti on Friday, March 11.

More notable recent Aegion Corp (NASDAQ:AEGN) news were published by: which released: “Aegion to sell pipe coating business as part of restructuring” on August 02, 2017, also with their article: “Aegion Corporation Sets Date to Announce Its First Quarter Financial Results” published on April 04, 2017, published: “Aegion Corporation Reports 2017 Second Quarter Financial Results” on August 01, 2017. More interesting news about Aegion Corp (NASDAQ:AEGN) were released by: and their article: “Aegion Corporation Provides an Update to Its Fourth Quarter Performance” published on January 10, 2017 as well as‘s news article titled: “Aegion Corporation Reports 2016 Full Year and Fourth Quarter Financial Results” with publication date: March 01, 2017.

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