Bankrupt Penny Stock at Risk of Bear Notes

The company filed for Chapter 11 bankruptcy this morning

Deputy Editor
May 14, 2020 at 10:15 AM
facebook twitter linkedin

The shares of Intelsat SA (NYSE:I) are down 18% to trade at 79 cents, after the satellite services provider filed for bankruptcy protection, a move designed to allow the company to participate in an upcoming government airwaves auction.

It's been a rough few months on the charts for Intelsat stock, to say the least. A steep bear gap in November sent shares below $25, and that was just the beginning. Now down 96.8% in the last 12 months, yesterday the stock hit a record low of 0.77, with consistent pressure from its 20-day moving average. 

Analysts are all over the place when it comes to Intelsat stock. Of the 11 in coverage, six brokerages sport a lukewarm "hold," two say "buy" or better, and the remaining all recommend a "sell."

Plus, the 12-month consensus target price of $8.99 sits up at territory not seen since that aforementioned November bear gap. This could signal some much needed price-target cuts in the near future, adding even more pressure to the beleaguered equity.


Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!