The stock price of Nanometrics Incorporated fell further below US$29 and closed Friday’s trading session on March 01, 2019 at US$28.85, up 39 US cents or 1.37 per cent.
The stock price has not fallen below the US$29.00 price level since it last reported on February 05, 2019, which missed analysts’ expectations.
Earlier, since we were keeping track on the stock price on a weekly basis, the stock price movements of NANO has been somewhat rangebound, and did not make any dramatic upturn pre- and post-earnings release. One thing to note for investors is even though the earnings missed out of the various target benchmarks, there has not been any significant downward price pressures of the stock price, which could mean that investors are not taking any drastic actions on the stock price.
Where shall investors look out for next?
While more downward pressures might exert towards NANO’s stock price, the stock price valuations do not present as very expensive with price-to-earnings (P/E) multiple of 12 to 14 times. So, in the meantime, we continue to monitor NANO’s stock price closely.