Astec Industries Inc. (ASTE) lost ground during morning trading on April 21 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the industrial goods sector halfway through the trading day. At the lunch break, shares of ASTE have fallen 3.59% to $61.3 after closing the day prior at $63.58. So far, the stock has traded as high as $63.55 and as low as $61.22. Today’s decline has come with about 40,841 shares changing hands, compared to an average 30-day volume of 125,367 for Astec Industries Inc.. The price is currently below the 30-day volume weighted average price of $62.45 for ASTE.
The share depreciation gives the company a market capitalization of $1.47 billion based upon 23.05 million shares outstanding. It also means that ASTE has a price-to-book ratio of 2.16:1.
In the past 52 weeks, shares of ASTE have traded as low as $45.62 and as high as $73.37. Technical traders will take note that at $61.3, shares of ASTE are trading below their 200-day MA at $62.03 and below their 50-day MA at $63.54. 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 ASTE?
Astec Industries Inc designs, engineers, manufactures and markets equipment and components used in road building, utility and related construction activities as well as other products. The company’s 4218 employees are led by CEO Benjamin G. Brock from the corporate headquarters at 1725 Shepherd Road in Chattanooga, TN.
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