Running of the Bulls in Alaska? Penny Stock ALSK Upgraded

The penny stock of Alaska Communications Systems Group Inc. (Nasdaq: ALSK) are having a rally today after being upgraded by Wall Street analysts at Raymond James from a “market perform” rating to an “outperform” rating. ALSK is currently trading up 10.90% at 2.09 after reaching as high as $2.24 during the morning portion of Tuesday’s trading session. Currently, ALSK stock is priced at -4.93% below the 50 day moving average, -32.94% below the 200 day moving average, -77.03% below the 52 week high of $9.10, and just 20.81% above the 52 week low of $1.73.

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ALSK Stock Chart

Market Cap (intraday): 94.61M
Price/Sales (ttm): 0.25

52-Week High
(Jun 23, 2011): 9.10
52-Week Low
(May 18, 2012): 1.73

50-Day Moving Avg: 2.20
200-Day Moving Avg: 3.12

Avg Vol (3 month): 588,711
Avg Vol (10 day): 485,100
Shares Outstanding: 45.49M
Float: 45.12M
% Held by Insiders: 1.54%
% Held by Institutions: 40.10%
Shares Short
(a/o May 15, 2012): 9.92M

Thus far today, ALSK has blasted through its 1st and 2nd resistance points at 1.94 and 1.99. If volume can maintain this pace and close at or above 2.08, the next resistance points which were already tested today are 2.09, (14 Day RSI at 50%), 2.13 (38.2% Retracement from 4 Week High), and 2.24 (Price Crosses 40 Day Moving Average).

About ALSK Stock 

Headquartered in Anchorage, Alaska Communications today serves the fastest growing segment of users – data dependent consumers and enterprises – and leverages its legacy as a local telephone company to support its wireless and enterprise data network.

Alaska Communications participates in the consumer market primarily through its wireless data and voice product line. The company’s network coverage extends from the North Slope to the Southeast panhandle, complemented by data and voice roaming partnerships in the Lower 48 and Canada, enabling us to offer nationwide plans identical to those offered by the biggest brands in the industry.

Bottom Line: Upgraded today by Raymond James to an “outperform”, don’t expect Alaska Communications Systems Group (ALSK) to lead the list of  penny stocks. ALSK stock has a long way to go before they return to trading at the $9 level.

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