Champion Industries Shares Shoot Up Following Strong Earnings

Shares of Champion Industries Inc. (CHMP) jumped to a 52-week high of $2.35 this morning before pulling back slightly. The stock is still sitting on a gain of nearly 42%, as the security continues its intraday rally following the company’s Q4 results, released yesterday after the close, where it reported adjusted earnings per share of $0.05, compared to a y/y net loss of $2.76 p/sh. This is one of the sharpest intraday gains we have seen for Champion Industries, Inc., in quite a while.

Over the last four months, CHMP has gained over 100%, but still remains at depressed levels, having fallen more than 10.00% year-to-date.

Champion Industries Inc., has a 52 week range of $1.45 to $2.10 (set on May 4, 2010). The stock’s 50-day moving average is $1.28 and its 200-day moving average is $1.45.

At last check, CHMP shares, which opened at $1.69 on Friday, were up over 38% to $1.86 in trading on the Nasdaq. More than 650,000 CHMP shares have already traded hands compared to a daily average of around 5,950 shares.

Champion Industries together with its subsidiaries, engages in commercial printing, business forms manufacturing, and office products and furniture supply businesses primarily in the U.S. The co. was founded in 1992 and is headquartered in Huntington, West Virginia.

About Ron Haruni 1033 Articles
Ron is the Co-Founder & Editor in Chief of Wall Street Pit. Web Site: Wall Street Pit

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