Tech Stocks Touched New Lows: MGT Capital Investments (NYSEMKT:MGT), NeoPhotonics Corp (NYSE:NPTN), NIC (NASDAQ:EGOV), Ixia (NASDAQ:XXIA)
On July 8, 2014, MGT Capital Investments Inc. (NYSEMKT:MGT) issued two press releases relating to certain corporate updates and other information currently available about the Company. The first press release announced the Company’s decision to dismiss its lawsuits against WMS Gaming Inc., in order to focus the Company’s resources on its patent infringement litigation efforts against Aruze Gaming America, Inc. The Company’s patent infringement lawsuits against WMS Gaming Inc. and Aruze Gaming America, Inc. were originally disclosed on the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 9, 2012. MGT Capital Investments Inc. (NYSEMKT:MGT) weekly performance is -22.86%. On last trading day company shares ended up $0.810. Analysts mean target price for the company is $2.00. MGT Capital Investments Inc. (NYSEMKT:MGT) distance from 50-day simple moving average is -34.99%.
NeoPhotonics Corp (NASDAQ:NPTN) has earned a consensus rating of “Hold” from the eight analysts that are covering the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. NeoPhotonics Corp (NYSE:NPTN) shares fell -7.07% in last trading session and ended the day on $3.55. NPTN Gross Margin is 22.80% and its return on assets is -15.40%. NeoPhotonics Corp (NYSE:NPTN) quarterly performance is -50.97%.
NIC (NASDAQ:EGOV) had its price objective lowered by Imperial Capital from $24.00 to $21.00 in a research report released on Tuesday morning. Imperial Capital currently has an outperform rating on the stock.NIC Inc. (NASDAQ:EGOV) shares moved down -1.39% in last trading session and was closed at $15.64, while trading in range of $15.39-$15.90. NIC Inc. (NASDAQ:EGOV) year to date performance is -37.11%.
Ixia (NASDAQ:XXIA) announced that it has introduced a new AUTOSAR standards compliant suite to test in-vehicle Infotainment and advanced driver assistance systems for the connected car. Ixia’s IxANVL (Automated Network Validation Library) Automotive Conformance and Interoperability test solution leverages Ixia’s deep knowledge of testing IP/Ethernet systems to help drive the evolution of the rapidly growing automotive Ethernet market. Ixia (NASDAQ:XXIA) ended the last trading day at $11.25. Company weekly volatility is calculated as 2.64% and price to cash ratio as 10.11. Ixia (NASDAQ:XXIA) showed a negative weekly performance of -1.57%.