Sunshine Heart Inc (SSH) 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 health care sector halfway through the trading day. At the lunch break, shares of SSH have fallen 3.66% to $0.71 after closing the day prior at $0.74. So far, the stock has traded as high as $0.75 and as low as $0.71. Today’s decline has come with about 17,846 shares changing hands, compared to an average 30-day volume of 53,107 for Sunshine Heart Inc. The price is currently below the 30-day volume weighted average price of $0.74 for SSH.
The share depreciation gives the company a market capitalization of $15.1 million based upon 20.41 million shares outstanding. It also means that SSH has a price-to-book ratio of 4.09:1.
In the past 52 weeks, shares of SSH have traded as low as $0.4 and as high as $2.82. Technical traders will take note that at $0.71, shares of SSH are trading below their 200-day MA at $0.85 and below their 50-day MA at $0.84. 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 SSH?
Sunshine Heart Inc is an early stage medical device company. It is engaged in developing, manufacturing and commercializing its C-Pulse Heart System for treatment of Class III and ambulatory Class IV heart failure. The company’s 38 employees are led by CEO John L. Erb from the corporate headquarters at 12988 Valley View Road in Eden Prairie, MN.
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