Manhattan Associates Inc. (MANH) started the trading day on a down note, making it one of the worst performing stocks in the technology sector of NYSE and NASDAQ listed companies shortly after the opening bell on April 21. Shares of MANH have fallen 5.73% about 30 minutes into the session to $47.68 after closing the day prior at $50.58. It’s early, but the stock has traded as high as $48.16 and as low as $46.28 so far. Today’s quick decline has come with about 544,363 shares changing hands, compared to an average 30-day volume of 552,390 for Manhattan Associates Inc.. The price is currently below the 30-day volume weighted average price of $47.36 for MANH.
The share depreciation gives the company a market capitalization of $3.51 billion based upon 69.44 million shares outstanding. It also means that MANH has a price-to-book ratio of 20.73:1.
In the past 52 weeks, shares of MANH have traded as low as $46.1055 and as high as $68.53. Technical traders will take note that at $47.68, shares of MANH are trading below their 200-day MA at $54.34 and below their 50-day MA at $50.0. 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 MANH?
Manhattan Associates Inc develops, sells, deploys, services and maintains software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations. The company’s 3020 employees are led by CEO Eddie Capel from the corporate headquarters at 2300 Windy Ridge Parkway in Atlanta, GA.
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