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Stock Investors Sell Off Shares of Layne Christensen, Down 2.5%

Published on Mon, 02/04/2013 - 13:31
By Mallory Stone

Layne Christensen (NASDAQ:LAYN) is a company whose shares are active, trading 2.5% lower to $22.38. The Dow Jones Industrial Average is now trading 0.8% lower to 13,895 and the S&P is trading 0.9% lower to 1,500.

In the past 52 weeks, shares of Layne Christensen have traded between a low of $17.46 and a high of $26.80 and are now at $22.38, which is 28% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.2%.

Layne Christensen (NASDAQ:LAYN) is currently priced 24.0% above its average consensus analyst price target of $17.00. The stock should find resistance at its 50-day moving average (MA) of $23.07, as well as support at its 200-day MA of $21.16.

Layne Christensen Company provides water well drilling, mineral exploration drilling, geotechnical construction, oil and gas services, and related products and services. The company's customers include municipalities, industrial, oil, gas, and mining companies, and consulting and engineering firms located in the United States, Canada, Mexico, Australia, Africa, and South America.

By Mallory Stone