IntriCon Corporation (NASDAQ:IIN) stock identified change of 11.41% away from 52-week low price and recently located move of -69.61% off 52-week high price. It has market worth of $199.32M . IIN stock has been recorded -5.27% away from 50 day moving average and -24.62% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.35% off 20-day moving average.
IntriCon Corporation (NASDAQ:IIN), a designer, developer, manufacturer and distributor of miniature and micro-miniature body-worn devices, today announced it has entered into a distribution agreement with Puretone Ltd., a Rochester, UK-based hearing health company with operations in more than 75 countries. Under the terms of the agreement, Puretone will distribute IntriCon branded hearing aids into the National Health Service system on the Company’s behalf.
Additionally, IntriCon completed the sale of its PC Werth accessory business assets to Warner Tech-care UK LTD, a subsidiary of US based Warner Tech-care LLC. Warner will continue to sell the accessories and services under the PC Werth brand names in the region.
In connection with the distribution agreement and sale of assets, IntriCon ceased all production and direct sales activities at its UK Limited subsidiary, effective June 28, 2019. The closure is expected to provide the Company with a cost reduction of approximately $1.0 million annually.
“We are delighted to partner with Puretone. They are a well-respected, global hearing health provider that has a proven track record for reaching the UK’s substantial customer base,” said Mark Gorder, President and Chief Executive Officer. “Importantly, this shift from direct sales to a distribution model in the UK not only provides us with a reduced cost structure but enables us to better focus our resources on our value-based hearing healthcare opportunities, most notably the large emerging OTC hearing aid market in the US.”
The Industrial Goods sector company, IntriCon Corporation noticed change of 1.43% to $23.34 along volume of 59110 shares in recent session compared to an average volume of 138.73K. The stock observed return of 2.23% in 5 days trading activity. The stock was at -14.60% over one month performance. IIN’s shares are at -12.02% for the quarter and driving a -42.79% return over the course of the past year and is now at -11.52% since this point in 2018. The average volatility for the week at 4.19% and for month was at 4.98%. There are 8.54M shares outstanding and 8.07M shares are floated in market. Right now the stock beta is 0.77.
Category – Business
After many years in the market, Charles Frey dedicated all his time to write articles highlighting different financial problems. He has worked as financial analyst until his retirement. He is a well-known research director and portfolio manager for more than 5 years.
Charles holds a postgraduate degree in Software Engineering. ‘The stock market is filled with individuals who know the price of everything, but the value of nothing.’ Charles is a share market expert, being personally invested for over 6 years. He has been writing his entire life, and while he has made a career of business and finance reporting, he still enjoys writing short stories and poetry.
Address: 2520 North Van Buren Street, Wilmington, DE 19802, USA
Email: [email protected]
Zip code: 19802
Contact # 302-298-6858