Investors look to Lighten Up on Shares of Anadigics, Shares Down 8.3% (ANAD)
Anadigics (NASDAQ:ANAD) is one of today's worst performing low-priced stocks, down 8.3% to $2.32 on 1.3x average daily volume. Anadigics has traded 907,000 shares thus far today, vs. average volume of 698,000 shares per day. The stock has underperformed the Dow (-8.3% to the Dow's 0.0%) and underperformed the S&P 500 (-8.3% to the S&P's 0.2%) during today's trading.
Anadigics has overhead space with shares priced $2.32, or 4.5% below the average consensus analyst price target of $2.43. Anadigics shares have support at the 50-day moving average (MA) of $1.74 and additional support at the 200-day MA of $1.72.
In the past 52 weeks, shares of Anadigics have traded between a low of $1.05 and a high of $3.22 and are now at $2.32, which is 121% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 4.4%.
ANADIGICS, Inc. designs and manufactures radio frequency integrated circuit solutions for the broadband and wireless communications markets. The Company's products enable manufacturers of communications equipment to enhance overall system performance, manufacturing costs, and time to market.
SmarTrend recommended that subscribers consider buying shares of Anadigics on November 28th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1.61. Since that recommendation, shares of Anadigics have risen 57.1%. We continue to monitor ANAD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: penny stocks anadigics