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Shares of Zagg Fall to a New 52-Week Low

Published on Wed, 07/31/2013 - 15:53
By Mallory Stone

Shares of Zagg (NASDAQ:ZAGG) traded today at $4.43, breaking its 52-week low. This new low was reached on approximately average trading volume as 663,000 shares traded hands, while the average 30-day volume is approximately 794,000 shares.

Zagg has overhead space with shares priced $4.45, or 19.1% below the average consensus analyst price target of $5.50. The stock should find initial resistance at its 50-day moving average (MA) of $5.21 and further resistance at its 200-day MA of $6.68.

Zagg Incorporated designs, manufactures and distribute branded protective coverings, audio accessories and power solutions for consumer electronic and hand-held devices.

Zagg share prices have moved between a 52-week high of $17.10 and the current low of $4.43 and are currently at $4.45 per share. The 200-day and 50-day moving averages have moved 0.79% lower and 0.41% lower over the past week, respectively.

By Mallory Stone