On May 11, the following stocks were determined to be overbought: Ellington Financial LLC, Kensey Nash Corporation, Arena Pharmaceuticals, Inc, and The Hain Celestial Group, Inc. The demand for these stocks have pushed the prices of the underlying assets to levels that do not support the fundamentals. This is interpreted as a sign that the stocks are overvalued and may experience a pullback.
Shares of Ellington Financial LLC (EFC) traded higher by 1.55% or $0.33/share to $21.62. In the past year, the shares have traded as low as $15.08 and as high as $21.91. On average, 32430 shares of EFC exchange hands on a given day and today's volume is recorded at 12370.
Shares of Kensey Nash Corporation (KNSY) fell by 0.05% or $-0.02/share to $38.49. In the past year, the shares have traded as low as $17.80 and as high as $38.69. On average, 114580 shares of KNSY exchange hands on a given day and today's volume is recorded at 15546.
Shares of Arena Pharmaceuticals, Inc (ARNA) traded higher by 60.38% or $2.21/share to $5.87. In the past year, the shares have traded as low as $1.23 and as high as $3.66. On average, 11263140 shares of ARNA exchange hands on a given day and today's volume is recorded at 41222196.
Shares of The Hain Celestial Group, Inc (HAIN) traded higher by 3.09% or $1.64/share to $54.74. In the past year, the shares have traded as low as $26.10 and as high as $53.50. On average, 408880 shares of HAIN exchange hands on a given day and today's volume is recorded at 277552.
