Stock Decliners: Cereplast Inc, OCZ Technology Group Inc, ANADIGICS, Endeavour International Corporation

Lakeway, TX -- (SBWIRE) -- 02/22/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Cereplast Inc (PINK:CERP) shares decreased 10% and closed at $0.0360 in yesterday’s session after the company, this week, announced the incorporation of a new wholly owned subsidiary, Algaeplast™, Inc. Algaeplast' s focus will be the development and manufacture of algae-based bioplastics.

Additionally, the company, on Feb. 7, announced that it has appointed Mr. Michael Okada as Chief Financial Officer, effective February 5, 2013. Mr. Okada has been the acting Interim Chief Financial Officer of the Company since February 2012.

How Should Investors Trade CERP After The Latest Report? Find Out Here

OCZ Technology Group Inc. (NASDAQ:OCZ) shares dropped 9.63% and closed at $1.69 after the company yesterday announced a special, 'limited time' gaming bundle for its new Vector SSD Series, which is regarded as the industry's fastest SSD currently available by dozens of media reviewers globally.

Additionally, the company, this week, announced that the Nasdaq Stock Market ("Nasdaq") has accepted the Company's plan to regain compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule") which will permit the continued listing of the Company's stock on the Nasdaq Capital Markets.

Is OCZ a Buy After The Recent News? Get Free Trend Analysis Here

ANADIGICS, Inc. (NASDAQ:ANAD) shares fell 9.58% and closed at $2.17. The company, on Feb. 19, reported fourth quarter 2012 net sales of $30.5 million, an increase of 6.4% sequentially and a decrease of 16.5% from the fourth quarter of 2011. Revenue for the full year 2012 of $112.6 million decreased 26.3% on an annual basis.

Additionally, ANAD‘s stock had its “neutral” rating reaffirmed by research analysts at DA Davidson in a report released on Feb. 11. They currently have a $2.70 target price on the stock, up from their previous target price of $1.75.

How Should Investors Trade ANAD After The Recent Movement? Find Out Here

Endeavour International Corporation (NYSE:END) shares dropped 9.28% to $3.03. Imperial Capital downgraded Endeavour from Outperform to In-line and lowered the price target from $11.00 to $8.50 on Feb. 19.

Additionally, the company, on Feb. 14, said it would explore a sale of the company as it was disappointed by the "dislocation" between its share price and the underlying value of its assets. The company began drilling the first of two planned wells in the Rochelle area in the third quarter of last year. Endeavour estimated it would take about 120 days to drill the other well.

Moreocer, the company will host a conference call and web cast to discuss its 2012 year-end and fourth quarter financial and operating results on Wednesday, March 6, 2013 at 9 a.m. Central Time, 3 p.m. British Time.

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