Geeknet Trading Down 15.7% Following Weak Earnings (GKNT)
Shares of Geeknet (NASDAQ:GKNT) were down 15.7% during mid-day trading on Friday following a dissappointing earnings announcement, AmericanBankingNews.com reports. The company traded as low as $13.54 and last traded at $14.54, with a volume of 213,666 shares. The stock had previously closed at $17.25.
The company reported $0.92 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.23 by $0.31. The company had revenue of $74.30 million for the quarter, compared to the consensus estimate of $79.61 million. During the same quarter last year, the company posted $0.71 earnings per share.
Separately, analysts at Zacks downgraded shares of Geeknet from an “outperform” rating to a “neutral” rating in a research note on Thursday, January 16th. They now have a $20.50 price target on the stock.
The stock has a 50-day moving average of $18.03 and a 200-day moving average of $17.71. The company has a market cap of $96.1 million and a P/E ratio of 151.32.
Geeknet, Inc (NASDAQ:GKNT) is an online network for the global geek community, which is consisted of technology enthusiasts and general consumers of geek-themed, technology-oriented and culture goods.
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