Cartesian Inc. (CRTN) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the services sector halfway through the trading day. At the lunch break, shares of CRTN have fallen 6.85% to $0.68 after closing the day prior at $0.73. So far, the stock has traded as high as $0.68 and as low as $0.68. Today’s decline has come with about 101 shares changing hands, compared to an average 30-day volume of 59,339 for Cartesian Inc.. The price is currently below the 30-day volume weighted average price of $0.68 for CRTN.
The share depreciation gives the company a market capitalization of $6.56 million based upon 8.99 million shares outstanding. It also means that CRTN has a price-to-book ratio of 1.12:1.
In the past 52 weeks, shares of CRTN have traded as low as $0.5622 and as high as $2.62. Technical traders will take note that at $0.68, shares of CRTN are trading below their 200-day MA at $1.52 and below their 50-day MA at $0.7. 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 CRTN?
Cartesian Inc, formerly Management Network Group Inc, provides consulting in strategy, execution and managed solutions to the clients in the communications, digital media, and technology industries. The company’s 360 employees are led by CEO Peter H. Woodward from the corporate headquarters at 7300 College Boulevard in Overland Park, KS.
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