Layne Christensen Company (NASDAQ:LAYN) Signals ‘Overbought’ As Indicated by Its RSI(14)

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Layne Christensen Company (NASDAQ:LAYN) is at overbought status with an RSI(14) at 84.15 .

The Relative Strength Index (RSI) is one of the most widely used technical indicators used to ascertain strengthening and weakening momentum in stock movements. RSI levels above 70 are considered overbought with RSI’s under 30 indicating oversold. Overbought is a condition that occurs when price momentum is considered too high and the stock may be due to decline.

Volatility

Layne Christensen Company’s stock has a beta of 0.33 meaning it is less volatile than the market as a whole. Stocks with a beta lower than the market are less risky and those with a higher beta may be more risky than the market.

The stock’s Average True Range (ATR) is 0.41. The ATR is a measure of volatility. It doesn’t indicate the likely direction of the stock price, just the likelihood that the stock will move.

Shares last traded at $12.34 quite a bit higher than $10.65, the 50 day moving average and impressively higher than the 200 day moving average of $9.11. The 50 day moving average went up $1.68 or +15.775% whereas the 200 day average was up by +35.467%.

Layne Christensen Company in recent headlines.

Layne Christensen Reschedules Fiscal 2018 Second Quarter Earnings Release And Conference Call Schedule
Layne Christensen Reports Fiscal 2018 Second Quarter Results.

Short Interest

Investors are feeling more bullish on shares of the company if you take into consideration the change in short interest. The company saw a fall in short interest between August 15, 2017 and August 31, 2017 of -3.18%. Short interest decreased 110,091 over that period. The short-interest ratio decreased to 39.0 and the percentage of shorted shares was 0.17% on August 31.

Insider Activity

Layne Christensen Company (NASDAQ:LAYN) has been the object of insider buying activity recently. President and CEO Michael J. Caliel disclosed the purchase of 2,500 shares of (LAYN). The shares were bought on July 17th for an average price of $9.57. Caliel now owns $143,550 of the stock according to the SEC filing.

In the latest earnings report the EPS was $-3.33 and is projected to be $-0.40 for the current year with 19,805,000 shares now outstanding. Next quarter’s EPS is expected be $-0.08 with next year’s EPS anticipated to be $0.51.

Company Information

Layne Christensen Company (Layne), launched on May 19, 1981, is a global water management, construction and drilling company. The Company provides water, mineral and energy solutions. The Company operates through three segments: Water Resources, Inliner and Mineral Services. Layne provides construction solutions for the management of water in various industries and environments. The Company provides drilling solutions for water management, mineral services and specialty drilling needs. Layne serves customers, such as government agencies, investor-owned utilities, industrial companies, global mining companies, consulting engineering firms, oil and gas companies, power companies and agribusiness..