StarTek, Inc. (SRT)’s Stock Formed A Several Months Bearish Multiple Bottom Pattern

September 8, 2018 - By Mary Kidd

StarTek, Inc. (NYSE:SRT) Logo

Investors sentiment decreased to 0.66 in 2018 Q1. Its down 0.24, from 0.9 in 2017Q4. It is negative, as 12 investors sold StarTek, Inc. shares while 17 reduced holdings. 6 funds opened positions while 13 raised stakes. 5.50 million shares or 11.69% less from 6.23 million shares in 2017Q4 were reported.
Renaissance Techs Ltd Llc stated it has 850,200 shares or 0.01% of all its holdings. Valley Natl Advisers holds 50 shares. Manufacturers Life Ins Com The has 0% invested in StarTek, Inc. (NYSE:SRT) for 686 shares. Jpmorgan Chase & accumulated 2,049 shares. 838,750 were accumulated by Dimensional Fund Advisors Lp. Blackrock holds 812,937 shares or 0% of its portfolio. Heartland Advisors has invested 0.52% in StarTek, Inc. (NYSE:SRT). Northern Corporation accumulated 131,793 shares. Royal Savings Bank Of Canada invested in 63 shares or 0% of the stock. Rbf Limited Liability Company holds 49,423 shares. Bancorp Of Montreal Can reported 0% stake. Moreover, Martingale Asset Management Lp has 0% invested in StarTek, Inc. (NYSE:SRT). Amer Incorporated has invested 0% in StarTek, Inc. (NYSE:SRT). Ancora Lc has 0.1% invested in StarTek, Inc. (NYSE:SRT) for 223,436 shares. Citigroup holds 3,621 shares.

The stock of StarTek, Inc. (SRT) shows a multiple bottoms pattern with $5.78 target or 4.00 % below today’s $6.02 share price. The 5 months chart pattern indicates high risk for the $222.70M company. It was reported on Sep, 8 by Finviz.com. If the $5.78 price target is reached, the company will be worth $8.91M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 1.31% or $0.08 during the last trading session, reaching $6.02. About 95,694 shares traded or 5.41% up from the average. StarTek, Inc. (NYSE:SRT) has declined 39.68% since September 8, 2017 and is downtrending. It has underperformed by 52.25% the S&P500.

Analysts await StarTek, Inc. (NYSE:SRT) to report earnings on November, 14. They expect $-0.09 EPS, down 28.57 % or $0.02 from last year’s $-0.07 per share. After $-0.14 actual EPS reported by StarTek, Inc. for the previous quarter, Wall Street now forecasts -35.71 % EPS growth.

Another recent and important StarTek, Inc. (NYSE:SRT) news was published by Seekingalpha.com which published an article titled: “Startek, Inc. (SRT) CEO Lance Rosenzweig on Q2 2018 Results – Earnings Call Transcript” on August 12, 2018.

StarTek, Inc. provides business process outsourcing services in the United States, Canada, Honduras, Jamaica, and the Philippines. The company has market cap of $222.70 million. It operates in three divisions: Domestic, Nearshore, and Offshore. It currently has negative earnings. The company's service offerings include customer care, sales support, inbound sales, complex order processing, accounts receivable management, technical and product support, up-sell and cross-sell opportunities, customer intelligence analytics, and other industry-specific processes.

StarTek, Inc. (NYSE:SRT) Institutional Positions Chart

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