Costamare Inc. (NYSE: CMRE) shares rose on Tuesday February 7 on lighter trade volume than normal after more analysts initiated coverage on the stock.
U.S. stocks were up in early trade on Tuesday which could put the equity market on track to set new records.
Investors were focusing on earnings, with GM and Michael Kors making moves after reporting early.
S&P 500 futures ESH7, +0.31% rose 7 points, or 0.3%, to 2,293.50, while Dow Jones Industrial Average futures YMH7, +0.46% tacked on 70 points, or 0.4%, to 20,042. Nasdaq-100 futures NQH7, +0.48% added 14 points, or 0.3%, to 5,171.75.
Analysts at Citigroup Inc. initiated coverage on Costamare Inc. (NYSE: CMRE) stock, rating the company at Neutral. Citigroup Inc. currently has a rating of Neutral on the shares. The one-year price target of $6.58 is higher than the opening price of $5.43, that has caused a number of other analysts to comment on the company recently. Looking back over the last year, Costamare Inc. stock has a high of $11.00. Analysts and brokerage firms will subsequently publish periodic updates after initiating coverage,. Changes in price targets are not unheard of.
Yesterday Costamare Inc. (NYSE: CMRE) shares last traded at $5.44, which represents a jump of $0.06 compared to the previous closing price. Opening at $5.43, they fluctuated from $5.37 and $5.46 throughout the day.
Costamare Inc. (NYSE: CMRE) currently has a market cap of 443.35M.
Costamare Inc. (NYSE: CMRE) Average Daily Trading Volume
77,514 shares crossed the trading desk yesterday, 24 percent lower than normal, out of a total float 37,150,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for short periods will not mean much will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Costamare Inc. (NYSE: CMRE) 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.
With that in mind, Costamare Inc. (NYSE: CMRE) now has a 50-day MA of $5.85 and 200-day MA of $7.42. It has traded in a 52-week range between $5.07 – 11.00 and today’s last price is 50.55%% lower than the 52 week high of $11.00.
Earnings growth is a critical factor to consider when investing in stocks and investors seek companies that have raised their earnings by at least 25% over the past 3 years.
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