Stock Investors Sell Off Shares of Spectranetics, Down 1.8%

Published on Thu, 03/28/2013 - 12:20
By Robert Cotter in Market movers, SPNC, market movers, nasdaq:spnc, spectranetics

Spectranetics (NASDAQ:SPNC) is a company whose shares are active, trading 1.8% lower to $18.35. The S&P is trading higher by 0.2% to 1,566 and the Dow is trading 0.3% higher to 14,563.

Spectranetics share prices have moved between a 52-week high of $19.32 and a 52-week low of $9.25 and are now trading 98% above that low price at $18.35 per share. The 200-day and 50-day moving averages have moved 0.93% higher and 1.05% higher over the past week, respectively.

The Spectranetics Corporation develops, manufactures, markets, and distributes its technology for interventional cardiovascular therapy. The Company's CVX-300 excimer laser system is used in applications such as coronary angioplasty and the removal of pacemaker leads. Spectranetics is also developing other applica- tions in restenosis stents and peripheral vascular applications.

Spectranetics has overhead space with shares priced $18.35, or 3.9% below the average consensus analyst price target of $19.10. The stock should discover initial support at its 50-day moving average (MA) of $17.53 and subsequent support at its 200-day MA of $14.24.

By Robert Cotter
rcotter@fnno.com

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