Ikonics Corporation (IKNX” target=”_new”>IKNX) was one of the weakest stocks in the basic materials sector of the NYSE and NASDAQ listed companies on April 21, skidding 5.74% to close the day at $8.82 after closing the day prior at $9.36. Throughout the day, shares of IKNX” target=”_new”>IKNX traded as high as $9.47 and as low as $8.81. Today’s decline came with about 1,258 shares changing hands, compared to an average 30-day volume of 1,030 for Ikonics Corporation. The price is currently below the 30-day volume weighted average price of $9.12 for IKNX” target=”_new”>IKNX.
The share depreciation gives the company a market capitalization of $18.9 million based upon 2.02 million shares outstanding. It also means that IKNX has a price-to-book ratio of 1.4:1.
In the past 52 weeks, shares of IKNX” target=”_new”>IKNX have traded as low as $9.3 and as high as $13.95. Technical traders will take note that at $8.82, shares of IKNX” target=”_new”>IKNX are trading below their 200-day MA at $10.95 and below their 50-day MA at $9.98. 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 IKNX?
Ikonics Corp is engaged in the development, manufacture and selling of photosensitive liquids (emulsions) and films for the screen printing and awards and recognition industries. The company’s 80 employees are led by CEO William C. Ulland from the corporate headquarters at 4832 Grand Avenue in Duluth, MN.
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