Electronics for Imaging, Inc. (NASDAQ: EFII) shares rose on Monday February 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 U.S. stock-market indexes opened higher on Monday, setting intraday all-time highs shortly after market open. The S&P 500 SPX, +0.35% opened up 6 points, or 0.2%, at 2,322.
The Nasdaq Composite COMP, +0.44% began the session up 18 points, or 0.3% higher at 5,752. The Dow Jones Industrial Average DJIA, +0.51% added 64 points or 0.3%, to 20,340 at the open.
Electronics for Imaging, Inc. (NASDAQ: EFII) had its Buy rating reiterated by equities researchers at Needham & Company LLC in a research note to investors. With a rating of Buy on the stock, Electronics for Imaging, Inc. has a 52-week high of $50.09. The one-year price target of $56.40 is above the opening price of $46.00, causing a number of other analysts to comment on the stock recently. Usually, after analysts assign a “reiterated rating” report on a stock, they will later issue recurring updates, such as a price target change.
Yesterday Electronics for Imaging, Inc. (NASDAQ: EFII) shares last traded at $46.25, an increase of $0.42 from the previous closing price. Opening at $46.00, they varied from $45.85 and $46.29 throughout the day.
Electronics for Imaging, Inc. (NASDAQ: EFII) currently has a market cap of 2.19B.
Electronics for Imaging, Inc. (NASDAQ: EFII) Average Daily Trading Volume
8,447 shares crossed the trading desk yesterday, 83 percent lower than the average, out of a total float 46,826,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher 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.
These instituitional investors retain teams of analysts that investigate thousands of stocks, so it is good validation to see them buying a stock you’re researching.
Electronics for Imaging, Inc. (NASDAQ: EFII) 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, Electronics for Imaging, Inc. (NASDAQ: EFII) now has a 50-day MA of $44.78 and 200-day MA of $44.94. It has traded in a 52-week range between $35.94 – 50.09 and today’s last price is 7.67%% lower than the 52 week high of $50.09.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors seek companies that have raised their earnings at least 25% or more for a 3 year period.
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