The recent business days have not been kind for Silica sand supplier U.S. Silica Holdings Inc (NYSE:SLCA) and Chinese tech firm Xunlei Ltd (NASDAQ:XNET). The two companies have drifted away from their 52-week highs and it’s just a matter of time before they plunge deep below their 52-week lows.
Things looked bright for U.S. during the May 22, 2019 session when 1,521, 988 shares an improvement from the previous 1,450, 660. During the session, the shares moved to a high of $12.70 before receding to close the day at a disappointing $12.03. As of this writing, the shares are trading near 74% down their 52-week high of $33.24. The bleeding persisted to the most recent trading where the stock lost 8.99% to wind the day at $10.93 almost a dollar above its 52-week low.
Despite the harrowing plunge, 9 out of the 17 analysts covering the stock are optimistic that the shares ultimately gain ground and have given it a BUY rating with a price target of $17.78. The company recently tried to challenge earnings forecast of -$0.13 per share posting -$0.08 during the previous quarter.
China’s Xunlei Limited has also witnessed its fair share of turbulence in the market recently. The stock that once traded at a high of $15.92 this year closed the most recent session at a humiliating $2.60 barely $0.05 above its 52-week low. The recent tumble has taken a hit at the company’s once lofty market value giving it a degraded valuation of $876.70 million. The company has been making little positive strides to get out of its resistance level but some days have been tough claiming the little efforts made.
Xunlei has lost over 83% of its share price recently and it is not yet clear when things will begin looking bright again. The ongoing U.S. -China trade war feared to continue for a much longer time does not do the company any good either.
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