Analysts at Zacks Investment Research downgraded shares of Imax Corp. (NYSE: IMAX) from Hold to Sell in a research note to investors today. Zacks Investment Research currently has a rating of Sell on the shares. As a means of comparison, a number of other analysts have issued reports on the company in recent days, and the company has earned a consensus one-year price target of $39.47, higher than the opening price of $29.41. Imax Corp. stock has a 52-week high of $40.36. Downgrades occur when analysts feel that the future prospects for the security have diminished from the initial recommendation, usually because of an important and fundamental digression in the company’s actions, future outlook or industry.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Shares of Imax Corp. (NYSE: IMAX) opened at $29.41 yesterday and traded in a range between, $28.97 and $29.44, and last traded at $29.09, which represents a decrease of $0.32 compared to the previous closing price.
Imax Corp. (NYSE: IMAX) now has a market cap of 1.95B.
630,726 shares crossed the trading desk yesterday, 105 percent lower than the average, out of a total float 57,582,000. Momentum traders often use upticks in trading volume to identify heavy volume aggregation or circulation by institutional investors, so trading volume is likely to increase in the next few days.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
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, Imax Corp. (NYSE: IMAX) now has a 50-day MA of $30.59 and 200-day MA of $31.07. It has traded in a 52-week range between $25.52 – 40.36 and today’s last price is 0.28% lower than the 52 week high of $40.36.
Earnings growth is a crucial factor to consider when buying stocks and investors identify companies that have raised their earnings at least 25% or more over the past 3 years.
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