Celestica, Inc. (NYSE: CLS) shares fell on Friday January 13 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.03% slipped 5.27 points to close 19,885.73, moving in a roughly 100-point range all session. For the week, the blue-chip index is off 0.4%.
U.S. financial markets will be closed Monday for Martin Luther King Jr. Day.
The S&P 500 index SPX, +0.18% added 4.20 points, or 0.2%, to end at 2,274.64 for a weekly loss of 0.1%, and the Nasdaq Composite Index COMP, +0.48% climbed 26.63 points, or 0.5%, to finish at 5,574.12, its sixth all-time closing high in seven trading sessions.
RBC Capital Markets analysts reiterated its Hold rating on Celestica, Inc. (NYSE: CLS) in a note to investors, making it one of the more closely watched stocks on Wall Street. RBC Capital Markets currently has a rating of Hold on the stock. The one-year price target of $12.42 is lower than the opening price of $12.44, causing a number of other analysts to comment on the company recently. Looking back over the last year, Celestica, Inc. stock has a high of $12.59. Share prices sometimes get a bounce to the upside when analysts reiterate coverage.
Yesterday Celestica, Inc. (NYSE: CLS) shares last traded at $12.38, a dip of $0.04 from the previous closing price. Opening at $12.44, they varied from $12.33 and $12.46 throughout the day.
Celestica, Inc. (NYSE: CLS) now has a market cap of 1.73B.
Celestica, Inc. (NYSE: CLS) Average Daily Trading Volume
The stock’s average daily volume is 282,752 shares out of a total float 102,544,000 and some 136,777 shares crossed the trading desk yesterday, 1 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts that investigate thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Celestica, Inc. (NYSE: CLS) 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 the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for Celestica, Inc. (NYSE: CLS) have ranged from $8.07 – 12.59, and the stock now has a 50-day MA of $12.10 and 200-day MA of $11.15. Today’s last price is 1.67%% under the 52 week high of $12.59.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors identify companies that have grown their earnings at least 25% or more over a 3 year period.
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