Alere (ALR) Is Today's Dead Cat Bounce Stock

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Alere ( ALR) as a "dead cat bounce" (down big yesterday but up big today) candidate. In addition to specific proprietary factors, Trade-Ideas identified Alere as such a stock due to the following factors:

  • ALR has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $31.7 million.
  • ALR has traded 741,515 shares today.
  • ALR is up 3.1% today.
  • ALR was down 13% yesterday.

EXCLUSIVE OFFER: Get the inside scoop on opportunities in ALR with the Ticky from Trade-Ideas. See the FREE profile for ALR NOW at Trade-Ideas

More details on ALR:

Alere Inc. provides diagnostics and services for cardiology, infectious disease, toxicology, and diabetes in the United States and internationally. The company operates in three segments: Professional Diagnostics, Health Information Solutions, and Consumer Diagnostics. Currently there are 3 analysts that rate Alere a buy, no analysts rate it a sell, and 4 rate it a hold.

The average volume for Alere has been 513,200 shares per day over the past 30 days. Alere has a market cap of $3.3 billion and is part of the health care sector and health services industry. The stock has a beta of 2.59 and a short float of 6.3% with 4.74 days to cover. Shares are down 4% year-to-date as of the close of trading on Monday.

If you liked this article you might like

These Stocks Are Ready to Reverse Course

Abbott CEO: Another Alere-Related Divestiture Coming Soon

Alere, St. Jude Deals in Focus as Abbott Releases Q2 Earnings

Quidel Diversifies With Alere's Triage Assets

Alere Shareholders Vote to Approve Amended Merger with Abbott