Capstone Turbine (CPST) Shares Under Pressure On News Of Stock Offering

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08:50:30 pm on February 18, 2010

Capstone Turbine (CPST) shares are down about 10% in after hours trading after announcing it intends to offer shares of common stock in an public offering.  No word on how many shares the company will offer, but it’s expected to price before the bell tomorrow.

There is strong support in CPST at around 1.10 which happens to be the 200 day moving average.  Should it close below 1.10, a move to the buck level becomes likely.  I won’t touch CPST on the long side until it firmly breaks above 1.45/share. 

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