Steel Excel Hits New 12-Month High at $29.33 (ADPT)
Steel Excel (NASDAQ:ADPT) shares hit a new 52-week high on Thursday , AmericanBankingNews.com reports. The stock traded as high as $29.33 and last traded at $28.98, with a volume of 44,102 shares. The stock had previously closed at $28.19.
A number of analysts have recently weighed in on ADPT shares. Analysts at Dougherty & Co initiated coverage on shares of Steel Excel in a research note on Monday, July 21st. They set a “buy” rating on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Steel Excel in a research note on Monday, July 21st. They set an “equal weight” rating on the stock. Finally, analysts at Piper Jaffray initiated coverage on shares of Steel Excel in a research note on Monday, July 21st. They set an “overweight” rating and a $32.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Steel Excel currently has a consensus rating of “Buy” and an average target price of $30.83.
The stock has a 50-day moving average of $25.83 and a 200-day moving average of $25.77. The company’s market cap is $283.2 million.
Steel Excel (NASDAQ:ADPT) last announced its earnings results on Wednesday, July 30th. The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.11) by $0.11. The company had revenue of $44.20 million for the quarter, compared to the consensus estimate of $43.50 million. The company’s quarterly revenue was up 80.4% on a year-over-year basis. Analysts expect that Steel Excel will post $-0.30 EPS for the current fiscal year.
Steel Excel Inc, formerly ADPT Corp. is primarily focused on capital redeployment and identification of new business operations.
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