Watch for Continued Losses in Shares of Walter Energy (WLT)

Published on Fri, 06/12/2015 - 14:39
By Mallory Stone in 52 Week high-lows, WLT, 52 week high/lows, nyse:wlt, walter energy

Shares of Walter Energy (NYSE:WLT) traded at a new 52-week low today of $0.28. Approximately 2.3 million shares have changed hands today, as compared to an average 30-day volume of 1.5 million shares.

In the past 52 weeks, Walter Energy share prices have been bracketed by a current low of $0.28 and a high of $6.84 and are now at $0.28. The 200-day and 50-day moving averages have moved 6.4% lower and 5.22% lower over the past week, respectively.

Walter Energy (NYSE:WLT) has potential upside of 191.3% based on a current price of $0.28 and analysts' consensus price target of $0.82. Walter Energy shares should first meet resistance at the 50-day moving average (MA) of $0.52 and find additional resistance at the 200-day MA of $1.61.

Walter Energy, Inc. mines coal. The Company produces metallurgical and steam and industrial coal,, manufactures blast furnace, foundry, industrial and buckwheat coke, and produces light oil, coal tar, and ammonium sulfate. Walter Energy also degasifies coalbeds and sells the gas to a utility.

By Mallory Stone
mstone@fnno.com

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