Hardinge tumbles 12% on analyst downgrade
Hardinge Inc. (Nasdaq:HDNG) tumbled nearly 12% to a new 52-week low this morning after its stock was downgraded by Jefferies & Co.
The brokerage firm lowered its rating on the stock to “hold” from “buy.”
Elmira, N.Y.-based Hardinge is a provider of advanced material-cutting solutions.
By midday, Hardinge is down $1.36 to $10.08, its new 52-week low. Previously, shares had ranged between $11.29 and $38.48.
For detailed price information and news stories on Hardinge, click HDNG.
About the Author
Contributing author Mary Ann Azevedo has more than 13 years of writing and editing experience that includes coverage of a broad range of companies.
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