RadioShack Corporation(NYSE:RSH) shares popped higher in very early trading Tuesday but have since reversed, trading down to $1.33 and nearing a test of the all-time low of $1.28 hit April 17. Shareholders are digesting news the company’s executive vice president of store operations has resigned to pursue other interests.
RadioShack filed the notice of Troy Risch’s resignation with the SEC on April 18, and the SEC released the 8-K filing communicating the resignation on April 21.
According to the filing, Risch’s duties will be temporarily assumed by other members of management, effectively immediately. Risch held the post at the troubled electronics retailer for just more than a year.
In afternoon trading, RSH changes hands at $1.37, down 5.9% on the day. The stock traded as low as $1.33, within a few cents of the $1.28 hit April 17.
Analysts have a consensus Hold rating on RadioShack Corporation(NYSE:RSH) with a score of 1.71. The consensus target price is $1.85 which yields a 28% upside. A recent analyst action consisted of Zacks downgrading the stock from Neutral to Underperform on April 15th, placing a $1.75 price target on the company.
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