ModusLink Global Solutions Inc (MLNK) 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 services sector halfway through the trading day. At the lunch break, shares of MLNK have fallen 3.18% to $1.52 after closing the day prior at $1.57. So far, the stock has traded as high as $1.59 and as low as $1.52. Today’s decline has come with about 27,884 shares changing hands, compared to an average 30-day volume of 109,848 for ModusLink Global Solutions Inc. The price is currently below the 30-day volume weighted average price of $1.54 for MLNK.
The share depreciation gives the company a market capitalization of $87.22 million based upon 55.55 million shares outstanding. It also means that MLNK has a price-to-book ratio of 1.17:1.
In the past 52 weeks, shares of MLNK have traded as low as $1.05 and as high as $2.0799. Technical traders will take note that at $1.52, shares of MLNK are trading above their 200-day MA at $1.51 and below their 50-day MA at $1.67. 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 MLNK?
ModusLink Global Solutions Inc, through its wholly owned subsidiaries, provides comprehensive supply chain and logistics services. It provides services to companies in consumer electronics, communications, computing, software, storage and retail. The company’s 2200 employees are led by CEO James R. Henderson from the corporate headquarters at 1601 Trapelo Road in Waltham, MA.
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