Asure Software Inc. (NASDAQ: ASUR) shares rose in value Thursday Nov 17 with slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, stocks opened flat this morning, struggling for direction in early trade ahead of congressional testimony by Federal Reserve Chairwoman Janet Yellen. Ahead of an appearance before the Joint Economic Committee, Yellen said an interest-rate hike could come “relatively soon,”
The S&P 500 SPX, +0.25% fell less than 0.1% to 2,176.85 while Dow Industrials DJIA, -0.05% fell 9 points to 18,858. The Nasdaq Composite COMP, +0.18% declined 0.1% to 5,291.48.
Analysts at Zacks Investment Research upgraded shares of Asure Software Inc. (NASDAQ: ASUR) from Hold to Strong-Buy today. With a rating of Strong-Buy on the stock, Asure Software Inc. has a 52-week high of $8.17. A number of other analysts have commented on the company in recent days, and the company has earned a consensus one-year price target of $11.82, above the opening price of $8.04. Share prices sometimes get a jump to the upside when analysts upgrade a stock.
Asure Software Inc. (NASDAQ: ASUR) shares last traded at $8.09, a spike of $0.19 or 2.38% from the previous closing price. Opening at $8.04, they fluctuated from $8.01 and $8.10 throughout the day.
Asure Software Inc. (NASDAQ: ASUR) currently has a market cap of 52.94B.
Asure Software Inc. (NASDAQ: ASUR) Average Daily Trading Volume
The stock’s average daily volume is 38,636 shares out of a total float 5,491,000 and some 8,674 shares crossed the trading desk yesterday, lower than the average. Momentum traders often use increases in trading volume to pinpoint heavy volume accumulation or distribution by institutional investors, so look for trading volume to pick up in the coming days.
As with all potential breakouts, investors look for volume to be at least 40%-50% greater than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain teams of analysts researching thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Asure Software Inc. (NASDAQ: ASUR) 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 identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
With that in mind, Asure Software Inc. (NASDAQ: ASUR) now has a 50-day MA of $6.79 and 200-day MA of $5.51. It has traded in a 52-week range between $4.28 – 8.1674 and today’s last price is 0.97%% lower than the 52 week high of $8.17.
Earnings growth is a crucial factor to research when buying stocks and investors seek companies that have increased their earnings at least 25% or more for a 3 year period.
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