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Anadigics Down 18.3%, Shares Slide into the Red (ANAD)

Published on Thu, 08/07/2014 - 12:08
By Adrienne Chilton

Anadigics (NASDAQ:ANAD) is one of today's worst performing penny stocks, down 18.3% to $0.63 on 1.9x average daily volume. Anadigics has traded 2.3 million shares thus far today, vs. average volume of 1.2 million shares per day. The stock has underperformed the Dow (-18.5% to the Dow's -0.4%) and underperformed the S&P 500 (-18.5% to the S&P's -0.4%) during today's trading.

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.

Anadigics share prices have moved between a 52-week high of $2.20 and the current low of $0.57 and are currently at $0.63 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 2.1%.

Anadigics (NASDAQ:ANAD) has potential upside of 93.9% based on a current price of $0.63 and analysts' consensus price target of $1.22. The stock should find initial resistance at its 50-day moving average (MA) of $0.98 and further resistance at its 200-day MA of $1.55.

By Adrienne Chilton
achilton@fnno.com

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