Belden Inc. Could Burn Your Portfolio. Has Another Gap Down

The stock of Belden Inc. (NYSE:BDC) gapped down by $0.25 today and has $50.88 target or 9.00% below today’s $55.91 share price. The 5 months technical chart setup indicates high risk for the $2.29 billion company. The gap down was reported on Mar, 9 by If the $50.88 price target is reached, the company will be worth $206.10 million less. Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 4.15% or $2.42 during the last trading session, hitting $55.91. About 479,146 shares traded hands or 22.74% up from the average. Belden Inc. (NYSE:BDC) has declined 1.52% since July 31, 2015 and is downtrending. It has outperformed by 3.33% the S&P500.

Analysts await Belden Inc. (NYSE:BDC) to reports earnings on May, 5. They expect $0.98 earnings per share, down 2.00% or $0.02 from last year’s $1 per share. BDC’s profit will be $40.14M for 14.26 P/E if the $0.98 EPS becomes reality. After $1.63 actual earnings per share reported by Belden Inc. for the previous quarter, Wall Street now forecasts -39.88% negative EPS growth.

Out of 5 analysts covering Belden Inc. (NYSE:BDC), 5 rate it “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Belden Inc. was the topic in 5 analyst reports since July 24, 2015 according to StockzIntelligence Inc.

According to Zacks Investment Research, “Belden Inc is engaged in the design, manufacture and retail of cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics. The Company’s products find its application in the industrial automation, enterprise, education, healthcare, entertainment and broadcast, sound and security, transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing capabilities in North America, Europe, and Asia, and a market presence in nearly every region of the world. Belden Inc is based in St. Louis, Missouri.”

The institutional sentiment decreased to 0.86 in 2015 Q3. Its down 0.15, from 1.01 in 2015Q2. The ratio worsened, as 54 funds sold all Belden Inc. shares owned while 71 reduced positions. 36 funds bought stakes while 72 increased positions. They now own 52.46 million shares or 17.89% more from 44.50 million shares in 2015Q2.

Lapides Asset Management Llc holds 1.91% of its portfolio in Belden Inc. for 238,200 shares. Channing Capital Management Llc owns 697,330 shares or 1.59% of their US portfolio. Moreover, Basswood Capital Management L.L.C. has 1.52% invested in the company for 658,971 shares. The Alabama-based Rail has invested 1.49% in the stock. Investment Counselors Of Maryland Llc, a Maryland-based fund reported 380,976 shares.

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