FairPoint Communications Inc. (FRP) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the technology sector during morning trading on September 22. At the lunch break, shares of FRP have risen 3.15% to $13.72 after closing the day prior at $13.3. In the first two and a half hours of trading, the stock has gone as high as $13.74 and as low as $13.32. Today’s rise has come with about 17,333 shares changing hands, compared to an average 30-day volume of 115,477 for FairPoint Communications Inc.. The price is currently below the 30-day volume weighted average price of $13.51 for FRP.
The share appreciation gives the company a market capitalization of $359.78 million based upon 27.05 million shares outstanding. It also means that FRP has a price-to-book ratio of 16.01:1.
In the past 52 weeks, shares of FRP have traded as low as $12.69 and as high as $18.87. Technical traders will take note that at $13.72, shares of FRP are trading below their 200-day MA at $14.71 and below their 50-day MA at $14.58. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is FRP?
FairPoint Communications Inc provides communications services to business, wholesale and residential customers. It service offerings includes Data and Internet Services; Voice Services; Access; and Other Services. The company’s 2700 employees are led by CEO Paul H. Sunu from the corporate headquarters at 521 East Morehead Street in Charlotte, NC.
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