Geeknet Reaches New 1-Year Low on Disappointing Earnings (GKNT)
Geeknet (NASDAQ:GKNT) shares hit a new 52-week low on Friday after the company announced weaker than expected quarterly earnings, AmericanBankingNews.com reports. The company traded as low as $11.36 and last traded at $11.43, with a volume of 20,890 shares. The stock had previously closed at $12.55.
The company reported ($0.62) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.26) by $0.36. The company had revenue of $23.40 million for the quarter, compared to the consensus estimate of $24.87 million.
A number of research firms have recently commented on GKNT. Analysts at Zacks upgraded shares of Geeknet from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 9th. They now have a $12.60 price target on the stock.
The stock has a 50-day moving average of $12.48 and a 200-day moving average of $14.34. The company’s market cap is $78.1 million.
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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