Metabolix Inc. (MBLX) lost ground during morning trading on September 22 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector halfway through the trading day. At the lunch break, shares of MBLX have fallen 6.57% to $0.37 after closing the day prior at $0.4. So far, the stock has traded as high as $0.4 and as low as $0.32. Today’s decline has come with about 66,028 shares changing hands, compared to an average 30-day volume of 112,446 for Metabolix Inc.. The price is currently below the 30-day volume weighted average price of $0.35 for MBLX.
The share depreciation gives the company a market capitalization of $11.03 million based upon 27.84 million shares outstanding. It also means that MBLX has a price-to-book ratio of 2.66:1.
In the past 52 weeks, shares of MBLX have traded as low as $0.26 and as high as $3.98. Technical traders will take note that at $0.37, shares of MBLX are trading below their 200-day MA at $1.14 and below their 50-day MA at $0.5. 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 below them is typically regarded as bearish.
Who is MBLX?
Metabolix Inc is an biomaterials company focused on delivering sustainable solutions to the plastics industry. It has capabilities in microbial genetics, fermentation process engineering, chemical engineering, among others. The company’s 68 employees are led by CEO Joseph H. Shaulson from the corporate headquarters at 21 Erie Street in Cambridge, MA.
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