Mellanox Technologies Ltd. (MLNX): Today's Featured Technology Laggard
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. Mellanox Technologies (MLNX) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day down 1.1%. By the end of trading, Mellanox Technologies fell $20.16 (-20.5%) to $77.99 on heavy volume. Throughout the day, 6.9 million shares of Mellanox Technologies exchanged hands as compared to its average daily volume of 1.1 million shares. The stock ranged in price between $75.51-$83.15 after having opened the day at $82.80 as compared to the previous trading day's close of $98.15. Other companies within the Technology sector that declined today were: Recon Technology (RCON), down 18.9%, Comverse Technology (CMVT), down 15.5%, B Communications (BCOM), down 15.1%, and Powerwave Technologies (PWAV), down 14.3%.
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