Analysts downgrade Isilon; shares drop
Two analysts downgraded Isilon Systems Inc. and shares in the Seattle data systems company fell more than 11 percent in Friday trading.
On Friday, Caris & Co. downgraded Isilon (NASDAQ: ISNL) from "below average" to "sell" and McAdams Wright Ragen downgraded the company from "buy" to "hold."
Earlier this week, Isilon restated its financial statements for the fourth quarter of 2006 and for the first and second quarters of 2007.
Analyst Sid Parakh of Seattle's McAdams Wright Ragen said in a note to investors that the company "may be dead money in the near term as the company works through operational challenges and attempts to reinvigorate investor sentiment."
Parakh said he expects Isilon to lose 32 cents per share in fiscal 2008 and lose 22 cents per share in fiscal 2009 http://easy-quick-payday-loans.com.
Shares in Isilon fell 59 cents to close at $4.72 in Friday trading.
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