Benchmark Downgrades Overland Storage (OVRL) to Speculative Hold; Unfavorable Ruling from ITC
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Price: $1.15 -4.96%
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade OVRL Now!
Benchmark downgraded Overland Storage (NASDAQ: OVRL) from Speculative Buy to Speculateive Hold with a price target of $1.25.
Analyst, Mark W. Schappel, said, "We’ve long thought that a favorable ITC ruling could pave the way for additional patent infringement cases or licensing agreements for OVRL’s tape based storage patents from a broader sector of the industry. However, we believe this morning’s unfavorable ruling is likely to have an adverse impact on OVRL’s credibility with other potential patent infringement targets, diminishing the likelihood for further IP licensing opportunities and/or patent infringement cases, such as OVRL’s pending case against BDT in the Southern District of California."
For an analyst ratings summary and ratings history on Overland Storage click here. For more ratings news on Overland Storage click here.
Shares of Overland Storage closed at $2.00 yesterday, with a 52 week range of $1.91-$3.24.
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Analyst, Mark W. Schappel, said, "We’ve long thought that a favorable ITC ruling could pave the way for additional patent infringement cases or licensing agreements for OVRL’s tape based storage patents from a broader sector of the industry. However, we believe this morning’s unfavorable ruling is likely to have an adverse impact on OVRL’s credibility with other potential patent infringement targets, diminishing the likelihood for further IP licensing opportunities and/or patent infringement cases, such as OVRL’s pending case against BDT in the Southern District of California."
For an analyst ratings summary and ratings history on Overland Storage click here. For more ratings news on Overland Storage click here.
Shares of Overland Storage closed at $2.00 yesterday, with a 52 week range of $1.91-$3.24.
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