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.

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