Movado Group Inc. (MOV) Settles Into New 52-Week Low on August 28 Session

Equities Staff  |

Shares of Movado Group Inc. (MOV) sank into a new 52-week low yesterday, and could be a company to watch at the open. The company’s stock fell to as low as $18.78 yesterday after opening at $19.25. By the closing bell, the company's stock was at $21.22 a share for a loss of 15.02%.

While no company wants to see their stocks fall into a new 52-week low, opportune investors may have reason to celebrate. Bullish investors with a healthy tolerance for risk may view this as a chance to buy stocks as distressed prices before a bounce back. With that said, whenever a stock falls into new negative territory, there usually is a compelling reason for it. Investors bearish on the stock might see the stock reaching its lowest price in a year as a sign of growing downward momentum and take it as a good reason to sell their shares. Bulls, though, could likely see a new 52-week low as the stock hitting its low point and anticipate a recovery in the share price.

Movado Group Inc. saw 1.29 million shares of its stock trade hands, that's out of 23.05 million shares outstand. The stock has an average daily volume of 194,455 shares. After hitting a new 52-week low, Movado Group Inc. enters the new trading day with a market cap of 489.11 million, a 50-day SMA of $25.67 and a 200-day SMA of $31.32

Movado Group Inc. now has a P/E ratio of 10.3.

For a complete fundamental analysis analysis of Movado Group Inc., check out Equities.com’s Stock Valuation Analysis report for MOV.

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Movado Group Inc designs develop, sources, markets, and distributes fine watches in the United States and internationally. It operates through the Watch and Accessory Brands and Company Stores segment. The Watch and Accessory Brands segment includes the designing, manufacturing, and distribution of watches of quality owned brands and licensed brands. Its Company Stores segment includes the company's retail outlet locations in the United States and Canada. The company generates maximum revenue from the Watch and Accessory Brands segment. Geographically, it derives majority revenue from the International location.

Movado Group Inc. has 1,140 employees, is led by CEO Efraim Grinberg, and makes its home in Paramus, NJ.

Movado Group Inc. is also a component of the Russell 2000 Index, which is generally viewed as the most reliable indicator of the health of the broader small-cap market. Using a rules-based methodology, it creates a simple, unbiased view of how America's stable of smaller publicly traded companies are performing in the stock markets. The index consists of the 2,000 smallest companies of the 3,000 largest publicly-traded companies in the country as judged by market cap. It's constructed by Russell Investments, which also builds and maintains the Russell 3000 (an index consisting of all 3,000 biggest companies by market cap) and the large-cap Russell 1000 (which has the 1,000 largest companies from the Russell 3000).

To get more information on Movado Group Inc. and to follow the company’s latest updates, you can visit the company’s profile page here: MOV’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.



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