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Most Bearish Services Stocks – KIT digital (PINK:KITD), InnerWorkings (NASDAQ:INWK), Corrections Corp Of America (NYSE:CXW).

on 18/04/2013

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Stocks that are being watched this morning are: KIT digital, Inc. (PINK:KITD), InnerWorkings, Inc. (NASDAQ:INWK), Corrections Corp Of America (NYSE:CXW)

KIT digital, Inc. (PINK:KITD) tumbled after WSJ reported that the company is set to file for Chapter 11 bankruptcy protection after finding buyers to salvage core assets of the company, according to a regulatory filing Tuesday. The New York-based company may look for bankruptcy protection as soon as next week, the filing said. Deutsche Bank AG is reportedly playing role as an advisory to an independent committee of three non-shareholding board members that was created to evaluate the company’s strategic options.

What KITD’s Charts Are Signaling for Traders? Find Out Here

KIT digital, Inc. (PINK:KITD) fell -34.21% and closed at $0.250 with the total traded volume of 1.85 million shares. Its opening price was $0.33 and its shares traded within the range of $0.23-$0.35.

This company has earnings per share of -$2.35 with the net profit margin of -49.63% and operating margin of -44.83%. The company now has market cap of about $14.28 million.

InnerWorkings, Inc. (NASDAQ:INWK) was hit harder after the global marketing supply chain company reduced its full year 2013 forecast, mainly due to a change in control at a large retail client that resulted in the decision to redirect a noteworthy part of work to a provider with an existing business relationship with the client’s new management team.

Should INWK be a Buy or Sell Now? Find Out Here

InnerWorkings, Inc. (NASDAQ:INWK) lost -25.30% with the closing price of $10.48. The overall volume in the last trading session was 2.82 million shares. Its fifty two week range was $10.04-$15.80. The total market capitalization remained $526.10 million.

The stock is ahead of its 52 week low 4.38% and its last month price volatility remained 2.81%. Its beta coefficient was 1.97 with a target price of $17.50. In its share capital, the company has 50.22 million outstanding shares while 39.15 million shares have been floated in the market.

It has insider ownership of 1.98% with institutional ownership at 91.41%. Earnings per share this year grew 10.20%, while the five year EPS growth rate was -3.86%.

Corrections Corp Of America (NYSE:CXW) declined after reaching an ex-dividend date on April 17.

Corrections Corp Of America (NYSE:CXW) slipped -1.99% and closed at $33.44 in the last trading session with the overall traded volume of 2.67 million shares, more versus the average volume of 1.60 million shares. Its 52 weeks high price was $41.40 and it suffered its lowest price of $24.74 in the same period.

Can CXW Show a Strong Recovery? Find out in This Research Report

CXW has current ratio of 2.11 and its total debt-to-equity ratio is 0.73. It has market cap of $3.37 billion, while its total outstanding shares are 100.86 million. The stock’s beta value stands at 0.99 times.

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Source: anotherwinningtrade Posted Thu, April 18, 2013 13:01 - Permalink