Adeptus Health Inc ADPT shares are trading lower by $16.50 (62 percent) at $10.37 in Wednesday's session. A few different catalysts account for the sharp decline.
- The company announced a huge Q3 miss for EPS and nearly a $5 million for revenues. The company slashed its FY 2016 EBITDA outlook.
- The report prompted Bank of America and Jefferies to downgrade the issue.
- Investors may also be concerned the company needs to various financial alternatives through Goldman Sachs.
After a sharply lower open, it bounced only a dime to $11.30 before continuing its move lower. It has continued to make new lows for the day, with the current one standing at $9.91. That marks a new all-time low for the issue by nearly $14. Its previous all-time low was made in August 2014 at $23.88.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in