CyberOptics Corp. (NASDAQ: CYBE) shares rose on Monday Dec 19 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.
Meanwhile, the Dow Jones Industrial Average DJIA, +0.22% was trading up 37 points, or 0.2%, at 19,879, inching up to break the psychologically important 20,000 level.
The S&P 500 index SPX, +0.20% was up 6 points, or 0.3% at 2,264, with nine of the 11 main sectors trading higher.
The Nasdaq Composite Index COMP, +0.32% added 18 points, or 0.3% to 5,455.
CyberOptics Corp. (NASDAQ: CYBE) had its price target increased by equities researchers at Dougherty & Co from $40.00 to $45.00. With a rating of Buy on the stock, CyberOptics Corp. has a 52-week high of $30.50. The one-year price target of $35.00 is above the opening price of $25.00, resulting a number of other analysts to issue statements on the company recently.
CyberOptics Corp. (NASDAQ: CYBE) shares last traded at $25.90, which represents an increase of $1.05 or 4.23% from the previous closing price. Opening at $25.00, they ranged from $25.00 and $25.90 throughout the day.
CyberOptics Corp. (NASDAQ: CYBE) now has a market cap of 178.24M.
CyberOptics Corp. (NASDAQ: CYBE) Average Daily Trading Volume
16,387 shares traded hands yesterday, below normal, out of a total float 6,331,000. Trading volume is likely to increase in the next few days as swing traders often use increases in trading volume to pinpoint large volume growth or circulation by institutional investors.
As with all possible breakouts, investors look for volume to be at least 40%-50% greater than normal on the breakout to indicate 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.
These instituitional investors retain substantial teams of analysts researching thousands of stocks, so it is good corroboration to see them buying a stock you’re considering.
CyberOptics Corp. (NASDAQ: CYBE) 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 following the activity of these professional investors—and the moving averages they influence—it allows for traders to make more effective choices on trades.
With that in mind, CyberOptics Corp. (NASDAQ: CYBE) now has a 50-day MA of $26.82 and 200-day MA of $21.25. It has traded in a 52-week range between $6.71 – 30.50 and today’s last price is 15.08%% lower than the 52 week high of $30.50.
Earnings growth is a critical factor to look at when investing in stocks and investors seek companies that have grown their earnings by at least 25% over 3 consecutive years.
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