Signature Bank, ZIM Integrated Shipping Services Ltd., Otonomo Technologies Ltd. and others have been dropping. Here is what you should know.
Markets completed a mixed session yesterday, as Nasdaq shed 1.07% and closed at 12,000. S&P 500 lost 0.25% and ended the session at 4,090.38.
This limbo state is reflected by market data published as United States Crude Oil Inventories released earlier showed a marked improvement to -3.74 million from the preceding data of -7.49 million, but fell short of the -2.33 million figure forecast by a consensus of market analysts.
What is a downtrend?
The perceived tendency of a price to move in a downward direction over time. A downtrend describes the price movement of a continously depreciative financial asset over a particular time frame. In a downtrend, each successive low and peak is lower than the ones found earlier in the trend. The downtrend is therefore composed of lower swing lows and lower swing highs.
Signature Bank continues a 6 day downtrend; falls 5.54% yesterday
After setting a 15.15 cents – 17.6 cents range, Signature Bank closed the day 5.54% lower at 15.87 cents. Slightly down but mostly flat: Signature Bank ranged between 15.15 cents and 17.6 cents before closing at 15.87 cents. Yesterday's trading volume was 4.79 million shares which is under the 21-day average of 14.91 million. Signature Bank disclosed a quarterly dividend of 70 cents per share on Thursday, January 12th that was paid on Friday, February 10th to all shareholders of record up until Friday, January 27th. Based on current prices, the company's decision thereby provides Signature Bank investors with an annual dividend yield of 1,764.34%.
| ZIM Integrated Shipping Services Ltd. | 26.55% ($4.45) depreciation over 5 days (89 cents per day average)
More of the same from yesterday's session: after ending Tuesday at $19.54, ZIM Integrated Shipping Services Ltd. declined to $17.38 yesterday before closing at $17.62, thereby losing 9.83% in total. After setting a $17.38 – $19.09 range, ZIM Integrated Shipping Services Ltd. closed the day 9.83% lower at $17.62. Daily trading volume (10.22 million shares) was above the current multiday average of 6.24 million.
The company is currently trading with a market cap of $2.12 billion with an average daily trading volume of 6.24 million shares. The Israeli cargo shipping company has fallen back around 72.2% from the significant high of $70.3 set 10 months ago. ZIM Integrated Shipping Services Ltd. expected revenue of $2.10 billion with an EPS of $2.26.
| Otonomo | 25.27% (7.65 cents) depreciation over 7 days (1.0929 cents per day average)
After setting a 40 cents – 44.43 cents range, Otonomo closed the day 13.07% lower at 40.76 cents. After ending Tuesday at 46.89 cents, Otonomo dropped to 40 cents early in yesterday's session and closed at 40.76 cents. In total, it lost 13.07%. Daily trading volume (422,106 shares) was higher than the current multiday average of 240,444.