The Columbia, Maryland-based Sourcefire, Inc (NASDAQ:FIRE), a United States network security corporation, stock plunged after reporting that Chief Executive Officer John Burris has taken a medical leave for colon-cancer treatment.
Sourcefire shares fell 3.8% to settle at $50.43. Sourcefire had surged 62% this year through Tuesday.
The corporation reported in a statement on Tuesday that Chief Technology Officer and Founder of Sourcefire Martin F. Roesch would serve as interim Chief Executive Officer while Burris undergoes treatment. Burris would continue to serve as a board member and would provide “strategic input” while on leave.
Noble Financial Capital Markets analyst in Boca Raton, Florida Mark Jordan reported in an interview that Sourcefire has ample management in place to carry on in Burris’s absence.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Fortinet, Inc. (NASDAQ:FTNT) increased +2.50% to settle at $24.20, Check Point Software Technologies Ltd. (NASDAQ:CHKP) moved up +2.21% to end at $49.53 while Intel Corporation (NASDAQ:INTC) jumped +0.73% to finish on Tuesday at $26.86.
Sourcefire, Inc. (NASDAQ:FIRE) last session volume of 2.37 million shares was higher than its average volume of 556,441.00 shares. The stock after opening at $50.06 hit high price of $51.10 and then closed at $50.43 by scoring -3.76%.
The liquidity measure in recent quarter results of the company was recorded 2.86 as current ratio and on the other side the debt to equity ratio was 0.00 and long-term debt to equity ratio also remained 0.00. The Company had total cash at hand $150.16 million and a book value per share as $7.00 in the most recent quarter.
The stock price volatility was 6.30% for a week and 4.64% for a month as well as price volatility’s Average True Range for 14 days was 2.64 and its beta remained 1.01.
FIRE generated revenue of 181.17 million in the following twelve months and earned $5.80 million. The Company showed a positive 3.20% in the net profit margin and as well as in its operating margin which remained 5.35%. Company’s annual sales growth for the past five year was 18.92%.
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