Bright Health Group Inc., FIGS, Inc., Sirius XM Holdings Inc are at the top of this list of down trending stocks.
Markets closed higher Friday, as S&P 500 closed the day at 4,045.64, having gained 1.61%. Nasdaq ended the session at 11,700 after a 1.97% gain.
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.
Bright Health continues a 4 day downtrend; moves 8.16% Friday
After setting a 45 cents – 50 cents range, Bright Health Group Inc. closed the day 8.16% lower at 45.47 cents. An influx of sellers pushed the health insurance provider to end the session lower around 45.47 cents, while establishing a 45 cents to 50 cents session range Friday. Daily trading volume (4.87 million shares) was higher than the current multiday average of 1.81 million. Bright Health reported earnings results Wednesday; with EPS at -0.34 and revenues at $551.42 million, these results are mixed compared to a consensus of -0.54 Earnings Per Share and $1.77 billion revenue. Since the release of its earnings report, Bright Health lost 47.74%.
The company reported earnings results Wednesday; with EPS at -0.34 and revenues at $551.42 million, these results are mixed compared to a consensus of -0.54 Earnings Per Share and $1.77 billion revenue. Since the release of its earnings report, Bright Health lost 47.74%.
| FIGS | 31.56% ($2.81) depreciation over 12 days (23.4167 cents per day average)
After setting a $6.63 – $7.04 range, FIGS closed the day 4% lower at $6.7. An influx of sellers pushed the US healthcare apparel brand to end the session lower around $6.7, while establishing a $6.63 to $7.04 session range Friday. Daily trading volume (5.70 million shares) increased, making up 128% of the 21-day average (4.46 million). FIGS was down, even though its quarterly earnings released on Tuesday beat the analysts’ estimates. The reported earnings of 0.05 per share on revenue of $144.90 million, topping estimates of 0.01 per share on revenue of $134.16 million.
FIGS was down, even though its quarterly earnings released on Tuesday beat the analysts’ estimates. The reported earnings of 0.05 per share on revenue of $144.90 million, topping estimates of 0.01 per share on revenue of $134.16 million.
| Sirius XM | continues a month decline; stumbles 1.16% Friday
More of the same from Friday's session: the American broadcasting company has recovered almost all of its session losses after dipping down to $4.24 Friday. After setting a $4.24 – $4.3 range, Sirius XM closed the day 1.16% lower at $4.25. Friday's trading volume was 14.35 million shares which is slightly under the 21-day average of 18.59 million.
The company has a market cap of $16.53 billion with an average daily trading volume of 18.59 million shares. So far this year, the satellite and online radio company has declined 26.37% while touching highs around $6.78 earlier this year. So far this year, it has been under-performing the Nasdaq by 37.73%. Pointing downwards for around 3 months. $2.28 billion was Sirius XM's last reported revenue with 9 cents being the current EPS.