Layne Christensen Stock Falls On Unusually High Volume (LAYN)
Layne Christensen Company (Nasdaq:LAYN) is trading at unusually high volume Wednesday with 836,474 shares changing hands. It is currently at 6.9 times its average daily volume and trading down $1.16 (-4.6%).
NEW YORK ( TheStreet) -- Layne Christensen Company (Nasdaq: LAYN) is trading at unusually high volume Wednesday with 836,474 shares changing hands. It is currently at 6.9 times its average daily volume and trading down $1.16 (-4.6%) at $24.19 as of 4:04 p.m. ET. Layne Christensen has a market cap of $471.4 million and is part of the industrial goods sector and materials & construction industry. Shares are up 4.8% year to date as of the close of trading on Tuesday. Layne Christensen Company provides drilling, water treatment, and construction services, and related products to water infrastructure and mineral exploration markets. The company has a P/E ratio of 12.8, above the average materials & construction industry P/E ratio of 11.4 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Layne Christensen as a hold. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income and revenue growth. However, as a counter to these strengths, we also find weaknesses including poor profit margins, weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full Layne Christensen Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.