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The Technology sector as a whole closed the day down 1.3% versus the S&P 500, which was down 1.9%. Laggards within the Technology sector included Kingtone Wirelessinfo Solution ( KONE), down 7.3%, LookSmart ( LOOK), down 6.9%, LGL Group ( LGL), down 3.9%, Intelligent Systems ( INS), down 1.6% and Cover-All Technologies ( COVR), down 5.7%.

TheStreet Ratings Group would like to highlight 3 stocks that pushed the sector lower today:

Cover-All Technologies ( COVR) is one of the companies that pushed the Technology sector lower today. Cover-All Technologies was down $0.07 (5.7%) to $1.18 on average volume. Throughout the day, 11,710 shares of Cover-All Technologies exchanged hands as compared to its average daily volume of 13,600 shares. The stock ranged in price between $1.18-$1.22 after having opened the day at $1.22 as compared to the previous trading day's close of $1.25.

Cover-All Technologies Inc., through its subsidiary, Cover-All Systems, Inc., licenses and maintains software products for the property/casualty insurance industry in the United States and Puerto Rico. Cover-All Technologies has a market cap of $33.3 million and is part of the telecommunications industry. Shares are unchanged year-to-date as of the close of trading on Friday.

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TheStreet Ratings rates Cover-All Technologies as a sell. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself.

Highlights from TheStreet Ratings analysis on COVR go as follows:

  • COVR has underperformed the S&P 500 Index, declining 17.61% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
  • The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Software industry and the overall market, COVER-ALL TECHNOLOGIES INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • 45.78% is the gross profit margin for COVER-ALL TECHNOLOGIES INC which we consider to be strong. Regardless of COVR's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, COVR's net profit margin of 3.29% is significantly lower than the industry average.
  • COVR, with its decline in revenue, underperformed when compared the industry average of 26.4%. Since the same quarter one year prior, revenues slightly dropped by 1.1%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • COVR's debt-to-equity ratio is very low at 0.18 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Although the company had a strong debt-to-equity ratio, its quick ratio of 0.94 is somewhat weak and could be cause for future problems.

You can view the full analysis from the report here: Cover-All Technologies Ratings Report

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At the close, LGL Group ( LGL) was down $0.16 (3.9%) to $3.78 on average volume. Throughout the day, 5,198 shares of LGL Group exchanged hands as compared to its average daily volume of 3,700 shares. The stock ranged in price between $3.53-$3.98 after having opened the day at $3.98 as compared to the previous trading day's close of $3.93.

The LGL Group, Inc., through its subsidiaries, designs, manufactures, and markets standard and custom-engineered electronic components in the United States and internationally. LGL Group has a market cap of $9.3 million and is part of the telecommunications industry. Shares are unchanged year-to-date as of the close of trading on Friday.

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TheStreet Ratings rates LGL Group as a sell. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and generally disappointing historical performance in the stock itself.

Highlights from TheStreet Ratings analysis on LGL go as follows:

  • Net operating cash flow has significantly decreased to -$0.52 million or 316.73% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
  • LGL's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 37.86%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Electronic Equipment, Instruments & Components industry and the overall market, LGL GROUP INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • LGL GROUP INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has not demonstrated a clear trend in earnings over the past 2 years, making it difficult to accurately predict earnings for the coming year. During the past fiscal year, LGL GROUP INC reported poor results of -$3.16 versus -$0.51 in the prior year.
  • LGL, with its decline in revenue, underperformed when compared the industry average of 2.6%. Since the same quarter one year prior, revenues slightly dropped by 8.5%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.

You can view the full analysis from the report here: LGL Group Ratings Report

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LookSmart ( LOOK) was another company that pushed the Technology sector lower today. LookSmart was down $0.06 (6.9%) to $0.80 on heavy volume. Throughout the day, 26,190 shares of LookSmart exchanged hands as compared to its average daily volume of 13,400 shares. The stock ranged in price between $0.77-$0.83 after having opened the day at $0.78 as compared to the previous trading day's close of $0.86.

LookSmart, Ltd. provides search and display advertising network solutions in the United States, Europe, the Middle East, and Africa. LookSmart has a market cap of $4.1 million and is part of the telecommunications industry. Shares are unchanged year-to-date as of the close of trading on Friday.

TheStreet Ratings rates LookSmart as a sell. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, disappointing return on equity and generally disappointing historical performance in the stock itself.

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Highlights from TheStreet Ratings analysis on LOOK go as follows:

  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Internet Software & Services industry. The net income has significantly decreased by 36.8% when compared to the same quarter one year ago, falling from -$0.95 million to -$1.30 million.
  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Internet Software & Services industry and the overall market, LOOKSMART LTD's return on equity significantly trails that of both the industry average and the S&P 500.
  • Despite any intermediate fluctuations, we have only bad news to report on this stock's performance over the last year: it has tumbled by 61.98%, worse than the S&P 500's performance. Consistent with the plunge in the stock price, the company's earnings per share are down 27.77% compared to the year-earlier quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
  • LOOKSMART LTD's earnings per share declined by 27.8% in the most recent quarter compared to the same quarter a year ago. This company has not demonstrated a clear trend in earnings over the past 2 years, making it difficult to accurately predict earnings for the coming year. During the past fiscal year, LOOKSMART LTD continued to lose money by earning -$0.93 versus -$1.92 in the prior year.
  • The revenue fell significantly faster than the industry average of 28.8%. Since the same quarter one year prior, revenues fell by 20.1%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.

You can view the full analysis from the report here: LookSmart Ratings Report

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.