Hanger (OTCMKTS:HNGR) Stock Crosses Above 50 Day Moving Average of $18.33

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Hanger Inc (OTCMKTS:HNGR)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $18.33 and traded as high as $17.16. Hanger shares last traded at $17.12, with a volume of 125,508 shares trading hands.

HNGR has been the subject of several analyst reports. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. TheStreet lowered 22nd Century Group from a “c-” rating to a “d+” rating in a research note on Friday, March 29th.

The stock has a 50 day moving average price of $18.33.

Hanger (OTCMKTS:HNGR) last posted its earnings results on Wednesday, May 8th. The healthcare company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.08). The company had revenue of $236.42 million during the quarter, compared to analysts’ expectations of $243.40 million.

In related news, insider Vinit K. Asar purchased 2,700 shares of the business’s stock in a transaction on Friday, May 10th. The shares were bought at an average price of $18.98 per share, for a total transaction of $51,246.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.36% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new position in shares of Hanger in the 4th quarter valued at about $42,000. Bank of Montreal Can increased its holdings in shares of Hanger by 3,122.3% in the 1st quarter. Bank of Montreal Can now owns 8,378 shares of the healthcare company’s stock valued at $159,000 after acquiring an additional 8,118 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Hanger in the 1st quarter valued at about $188,000. Weber Alan W purchased a new position in shares of Hanger in the 4th quarter valued at about $190,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Hanger in the 4th quarter valued at about $231,000. Institutional investors and hedge funds own 3.61% of the company’s stock.

Hanger Company Profile (OTCMKTS:HNGR)

Hanger, Inc provides orthotic and prosthetic (O&P) services; and distributes O&P devices and components, manages O&P networks, and provides therapeutic solutions to patients and businesses in acute, post-acute, and clinic settings in the United States. It operates through two segments, Patient Care and Products & Services.

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