Layne Christensen Co. (LAYN) Sees Large Volume Increase
Layne Christensen Co. (NASDAQ:LAYN) saw unusually-high trading volume on Wednesday . Approximately 488,495 shares traded hands during trading, an increase of 202% from the previous session’s volume of 161,721 shares.The stock last traded at $8.99 and had previously closed at $8.97.
LAYN has been the topic of several recent research reports. Jefferies Group restated a “hold” rating on shares of Layne Christensen in a research report on Monday, August 15th. Zacks Investment Research upgraded Layne Christensen from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th.
The stock has a 50 day moving average price of $8.66 and a 200 day moving average price of $7.93. The firm’s market cap is $178.02 million.
Layne Christensen (NASDAQ:LAYN) last announced its quarterly earnings data on Monday, June 6th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by $0.14. The company had revenue of $159.70 million for the quarter, compared to the consensus estimate of $160.24 million. During the same period in the prior year, the firm posted ($0.33) EPS. The firm’s revenue was down 8.4% compared to the same quarter last year. Analysts expect that Layne Christensen Co. will post ($0.74) EPS for the current fiscal year.
Layne Christensen Company (Layne) is a water management, construction and drilling company. The Company provides drilling solutions for water management, mineral services and specialty drilling needs. The Company operates through four segments: Water Resources, Inliner, Heavy Civil and Mineral Services.
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