Del Taco Restaurants Inc. (NASDAQ: TACO) shares rose in value Tuesday Dec 13 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, the Dow DJIA, +0.47% climbed 106 points, or 0.6%, to 19,905. If the Dow finishes higher, it will notch its seventh straight gain.
The S&P 500 index SPX, +0.56% gained 10.45 points, or 0.5%, to 2,267 and the tech-heavy Nasdaq Composite Index COMP, +1.02% added 48 points, or 0.9%, to 5,461.
Both the S&P 500 index SPX, +0.56% and Nasdaq Composite COMP, +1.02% ended lower on Monday, with investors appearing reluctant to push shares higher ahead of the Fed meeting
Analysts at Zacks Investment Research upgraded shares of Del Taco Restaurants Inc. (NASDAQ: TACO) from Sell to Hold today. The company currently has a rating of Hold on the shares. The one-year price target of $16.36 is above the opening price of $14.71, resulting a number of other analysts to comment on the stock in recent days. Looking back over the last 52 weeks, Del Taco Restaurants Inc. stock has a high of $15.32. Share prices sometimes get a boost to the upside when analysts upgrade a stock.
Del Taco Restaurants Inc. (NASDAQ: TACO) shares last traded at $14.71, a jump of $0.12 or 0.82% from the previous closing price. Opening at $14.71, they fluctuated from $14.68 and $14.84 throughout the day.
Del Taco Restaurants Inc. (NASDAQ: TACO) now has a market cap of 575.94M.
Del Taco Restaurants Inc. (NASDAQ: TACO) Average Daily Trading Volume
The stock’s average daily volume is 466,164 shares out of a total float 27,338,000 and some 17,366 shares crossed the trading desk yesterday, below normal. Swing traders often use swings in trading volume to pinpoint heavy volume aggregation or distribution by institutional investors, so trading volume is likely to increase in the next few days.
However, a single day of high volume buy side trading is not enough to affirm a trend. So market traders will continue to watch for institutional sponsorship as an indicator 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.
These instituitional investors retain substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Del Taco Restaurants Inc. (NASDAQ: TACO) 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 winning trades.
With that in mind, Del Taco Restaurants Inc. (NASDAQ: TACO) now has a 50-day MA of $14.18 and 200-day MA of $11.49. It has traded in a 52-week range between $8.37 – 15.32 and today’s last price is 3.98%% lower than the 52 week high of $15.32.
Earnings growth is a critical factor to look at when buying stocks and investors watch for companies that have grown their earnings at least 25% or more over the past 3 years.
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