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Blue Nile (NASDAQ:NILE) hit a new 52-week low on Wednesday , Stock Ratings Network reports. The company traded as low as $29.40 and last traded at $30.08, with a volume of 23,221 shares changing hands. The stock had previously closed at $29.67.

A number of research firms have recently commented on NILE. Analysts at Deutsche Bank cut their price target on shares of Blue Nile from $43.00 to $40.00 in a research note on Friday, May 2nd. They now have a “buy” rating on the stock. Analysts at Zacks upgraded shares of Blue Nile from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 9th. They now have a $35.20 price target on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $42.05.

The stock has a 50-day moving average of $32.02 and a 200-day moving average of $38.24. The company has a market cap of $364.2 million and a P/E ratio of 34.58.

Blue Nile (NASDAQ:NILE) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $103.70 million for the quarter, compared to the consensus estimate of $105.44 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Analysts expect that Blue Nile will post $0.88 EPS for the current fiscal year.

Blue Nile, Inc (NASDAQ:NILE) is the online retailer of diamonds and jewelry.

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