2 Stocks Making Volatile Moves Today

BKS stock is set for its best close of 2018

Oct 4, 2018 at 10:36 AM
facebook twitter linkedin

Shares of surveying services expert SAExploration Holdings Inc (NASDAQ:SAEX) are volatile today after news the company landed a contract for a $100 million marine project in South Asia. After surging nearly 18% at the open, the stock swung back below breakeven to trade down 3.6% at $10.30.

This is just more of the same for the shares, which briefly traded above $30 just last week, and actually jumped above $70 back in early July. Overall, the volatile stock has mostly been in a multi-year downtrend, shedding 76% year-over-year.

Meanwhile, Barnes & Noble, Inc. (NYSE:BKS) has surged 23% to trade at $6.74, after the company announced a strategic review of its business, and confirmed it's received buyout interest from firms. The bookseller also said it's adopted "poison pill" to protect against hostile takeover attempts. This puts BKS stock on pace for its highest close of 2018, and its first finish atop a former level of resistance in the 320-day moving average in almost two years.

Meanwhile, brokerage firm Craig-Hallum is jumping on for the ride, this morning lifting its price target to $7 from $5. On the other hand, those who've been shorting the book retailer are hurting. In just the last two reporting periods, short interest jumped almost 28%, putting 18.6% of the float in the hands of short sellers.



Begin the New Year With Schaeffer's 7 FREE 2022 Stock Picks!



Special Offers from Schaeffer's Trading Partners