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Aegean shares reach 52-week low

Shares in Aegean Marine Petroleum hit a new 52-week low on the New York Stock Exchange.



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Updated on 16 Jun 2011 06:42 GMT

Shares in Aegean Marine Petroleum Network on the New York Stock Exchange (NYSE) reached a new 52-week low of US$7.08 yesterday with 398,293 shares being exchanged compared to an average 30-day volume of 478,000 shares.

The share price decreased by $0.33 (4.44 percent) yesterday to close at $7.11, down from $7.44 the previous day.

Over the past 52 weeks Aegean shares have ranged in price between a low of $7.08 and a high of $28.23. Over the past week, the 200-day moving average (MA) has declined 1.05 percent while the 50-day MA has dipped 0.56 percent.

Aegean last posted a US$10.1 million, or 71.6 percent, year-on-year decrease in net income for the first quarter ended March 31, 2011. Net income for the period was $4.0 million, or $0.09 basic and diluted earnings per share, compared to a net income of $14.1 million, or $0.30 basic and diluted earnings per share, during the first three months of 2010.

Financial results for the second quarter and first half of 2011 are expected to be released in the second week of August.






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