Ares Commercial Real Estate Corp. (NYSE: ACRE) shares rose on Tuesday Nov 22 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of stock.
Meanwhile, The Dow Jones Industrial Average opened opened higher, trading above 19,000 for the first time ever, while the S&P 500 traded above 2,200 shortly after the opening bell on Tuesday.
The S&P 500 SPX, +0.17% opened 5 points, or 0.2%, higher at 2,202. The Dow Jones Industrial Average DJIA, +0.20% added 45 points, or 0.2%, to 19,002. The Nasdaq Composite COMP, +0.25% began the session up 16 points, or 0.3%, at 5,385.
Ares Commercial Real Estate Corp. (NYSE: ACRE) had its price target boosted by equities researchers at FBR & Co from $14.00 to $14.75. With a rating of Outperform on the stock, Ares Commercial Real Estate Corp. has a 52-week high of $13.72. The one-year price target of $13.58 is less than the opening price of $13.69, that has caused a fair amount of other analysts to report on the stock in recent days.
Shares of Ares Commercial Real Estate Corp. (NYSE: ACRE) opened at $13.69 on Tuesday trading between $13.65 and $13.72, and last traded at $13.69, a spike of $0.11 or 0.81% compared to the previous closing price.
Ares Commercial Real Estate Corp. (NYSE: ACRE) currently has a market cap of 389.52M.
Ares Commercial Real Estate Corp. (NYSE: ACRE) Average Daily Trading Volume
16,063 shares traded hands yesterday, lower than the norm, out of a total float 27,093,000. Trading volume is likely to increase in the next few days as momentum traders often use upticks in trading volume to pinpoint large volume accumulation or distribution by institutional investors.
As with all possible breakouts, investors look for volume to be at least 40%-50% above normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have substantial teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Ares Commercial Real Estate Corp. (NYSE: ACRE) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors and how they influence moving averages,it allows for traders to make more useful judgments on trades.
With that in mind, Ares Commercial Real Estate Corp. (NYSE: ACRE) now has a 50-day MA of $12.95 and 200-day MA of $12.50. It has traded in a 52-week range between $8.91 – 13.72 and today’s last price is 0.22%% lower than the 52 week high of $13.72.
Earnings growth is a critical factor to research when buying stocks and investors seek companies that have raised their earnings at least 25% or more for the past 3 years.
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