Here’s one stock hitting a 52-week high and one finding a 52-week low today:
New High: Boston Beer Co.
Shares of Boston Beer Co. (NYSE:SAM) — maker of Sam Adams brand beers — gained more than 14% by mid-morning on an improved earnings forecast. The company now expects a full-year EPS between $4.30 and $4.60, up from previous estimates of $3.80 to $4.20. One reason for the good news was an increase in shipment volume.
The stock is now trading for more than $130, besting a previous 52-week high of $127 in early July. Shares have climbed a total of nearly 29% over the last year.
The company reports earnings in February and is coming off an impressive beat of 19 cents. If revenue and earnings grow for the full-year as expected, that will make it the tenth consecutive year of improvement.
New Low: Cereplast
Shares of Cereplast (NASDAQ:CERP) — a company that develops bio-based resins — hit a 52-week low thanks to this morning’s double-digit losses. The 17% drop came after the announcement that the company is voluntarily delisting from the Nasdaq. Shares are now trading for around 4 cents vs. a 52-week high of $1.25.
Cereplast took a similar plunge after sales came in at $477,000 last quarter, compared to $5.4 million a year ago.
As of this writing, Alyssa Oursler did not own a position in any of the aforementioned securities.