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Excel Maritime Carriers Up 12.7%, Penny Stock Attracts Attention (EXM)

Published on Mon, 01/07/2013 - 13:22
By Adrienne Chilton

Excel Maritime Carriers (NYSE:EXM) is one of today's best performing penny stocks, up 12.7% to $0.69 on 5.7x average daily volume. Thus far today, Excel Maritime Carriers has traded 2.1 million shares, vs. average volume of 376,000 shares per day. The stock has outperformed the Dow (12.7% to the Dow's -0.6%) and outperformed the S&P 500 (12.7% to the S&P's -0.6%) during today's trading.

Excel Maritime Carriers share prices have moved between a 52-week high of $2.36 and a 52-week low of $0.36 and are now trading 91% above that low price at $0.69 per share. The 200-day and 50-day moving averages have moved 3.89% lower and 1.03% higher over the past week, respectively.

Excel Maritime Carriers Ltd. owns and operates dry bulk carrier vessels and provides worldwide sea borne transportation services for dry bulk cargo. Excel's business strategy is to expand and diversify its fleet to achieve economies of scale and marketing strength in each of the drybulk sectors in which it operates.

Excel Maritime Carriers (NYSE:EXM) defies analysts with a current price ($0.69) 61.2% above its average consensus price target of $0.27. The stock should find resistance at its 200-day moving average (MA) of $0.78, as well as support at its 50-day MA of $0.45.

By Adrienne Chilton
achilton@fnno.com