Needham & Company Assumes Coverage on STEC, Inc. (STEC) at Hold
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Price: $1.53 --0%
Rating Summary:
0 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
Rating Summary:
0 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
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Needham & Company assumes coverage on STEC, Inc. (NASDAQ: STEC) with a Hold (from Buy).
The firm states, "While the uncertainty surrounding the SEC investigation and the recent admission of competitive pressures with some of its key OEMs continue to overhang the stock, we believe the current market cap likely reflects these dynamics. Therefore we are instituting a Hold rating on STEC vs. our previous Under Review."
For more ratings news on STEC, Inc. click here and for the rating history of STEC, Inc. click here.
Shares of STEC, Inc. closed at $9.44 yesterday.
The firm states, "While the uncertainty surrounding the SEC investigation and the recent admission of competitive pressures with some of its key OEMs continue to overhang the stock, we believe the current market cap likely reflects these dynamics. Therefore we are instituting a Hold rating on STEC vs. our previous Under Review."
For more ratings news on STEC, Inc. click here and for the rating history of STEC, Inc. click here.
Shares of STEC, Inc. closed at $9.44 yesterday.
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