Stock to Watch: EnteroMedics Down 56.0% (ETRM)
EnteroMedics (NASDAQ:ETRM) is one of today's worst performing low-priced stocks, down 56.0% to $1.25 on 19.4x average daily volume. Thus far today, EnteroMedics has traded 8.6 million shares, vs. average volume of 444,000 shares per day. The stock has underperformed the Dow (-56.0% to the Dow's 0.4%) and underperformed the S&P 500 (-56.0% to the S&P's 0.5%) during today's trading.
In the past 52 weeks, EnteroMedics share prices have been bracketed by a current low of $1.19 and a high of $4.40 and are now at $1.25. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.4%.
EnteroMedics Inc. is a development stage medical device company focused on the design and development of devices that use neuroblocking technology to treat obesity and other gastrointestinal disorders.
EnteroMedics has overhead space with shares priced $1.25, or 71.4% below the average consensus analyst price target of $4.38. The stock should run into initial resistance at its 50-day moving average (MA) of $2.72 and subsequent resistance at its 200-day MA of $3.18.
SmarTrend is monitoring the recent change of momentum in EnteroMedics. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of EnteroMedics in search of a potential trend change.
Keywords: penny stocks enteromedics