SpartanNash Co. (SPTN) established a new 52-week low yesterday, and could be a company to watch at the open. After opening at $19.24, SpartanNash Co. dropped to $18.95 for a new 52-week low. By the closing bell, the company's stock was at $19.64 a share for a gain of 2.35%.
Falling to a new 52-week low is never fun for company's shareholder, but, depending on who you ask, it can be either a buy or a sell signal. Someone bearish on the stock might see it reaching its lowest price in a year as a sign of growing downward momentum and make sure they sell their shares. Bulls, though, are more likely to see a new 52-week low as the stock hitting its low point and anticipate a bounce in the share price.
However one plays it, it's often a critical moment for any stock and should be noted by investors.
SpartanNash Co. saw 116,180 shares of its stock trade hands, that's out of 37.6 million shares outstand. The stock has an average daily volume of 188,824 shares. After hitting a new 52-week low, SpartanNash Co. enters the new trading day with a market cap of 738.38 million, a 50-day SMA of $22.85 and a 200-day SMA of $28.37
SpartanNash Co. now has a P/E ratio of 13.2.
For a complete fundamental analysis analysis of SpartanNash Co., check out Equities.com’s Stock Valuation Analysis report for SPTN. To see the latest independent stock recommendations from Equities.com’s analysts, visit our Research section.
SpartanNash Company is a regional grocery distributor and grocery retailer, operating in Michigan and Indiana. Its stores include Econofoods, Family Fare, Family Fresh Market, Sun Foods, and among others.
SpartanNash Co. has 16,100 employees, is led by CEO Dennis Eidson, and makes its home in Grand Rapids, MI.
SpartanNash Co. 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).
For more news on the financial markets, go to Equities.com. Also, learn more about our independent proprietary equity research reports and our robust do-it-yourself Stock Valuation Analysis reports in our Research section.
All data provided by QuoteMedia and was accurate as of 4:30PM ET.
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