HealthEquity, Inc. (NASDAQ: HQY) 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.
HealthEquity, Inc. (NASDAQ: HQY) had its Buy rating reiterated by equities researchers at Chardan Capital in a research note to investors. With a rating of Buy on the stock, HealthEquity, Inc. has a 52-week high of $49.25. The one-year price target of $49.00 is higher than the opening price of $43.72, resulting a fair amount of other analysts to report on the stock in recent days. Stock prices often shift to the upside on recommendations and new price targets of professional brokerage firms.
Shares of HealthEquity, Inc. (NASDAQ: HQY) opened at $43.72 yesterday and traded in a range between, $43.65 and $44.22, and last traded at $44.22, which represents a jump of $0.61 from the previous closing price.
HealthEquity, Inc. (NASDAQ: HQY) now has a market cap of 2.63B.
HealthEquity, Inc. (NASDAQ: HQY) Average Daily Trading Volume
112,016 shares traded hands yesterday, 86 percent lower than the average, out of a total float 48,434,000. 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.
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 is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts that research thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are researching.
HealthEquity, Inc. (NASDAQ: HQY) 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 spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, HealthEquity, Inc. (NASDAQ: HQY) now has a 50-day MA of $44.96 and 200-day MA of $37.81. It has traded in a 52-week range between $16.90 – 49.2500 and today’s last price is 10.21%% lower than the 52 week high of $49.25.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings by at least 25% for a 3 year period.
DISCLOSURE: The views and opinions expressed in this article do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.