ManTech International Corp. (NASDAQ: MANT) shares rose in value Tuesday Nov 22 with lower 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 Jones Industrial Average opened opened higher, trading above 19,000 for the first time ever, while the S&P 500 traded above 2,200 shortly after the opening bell on Tuesday.
The S&P 500 SPX, +0.17% opened 5 points, or 0.2%, higher at 2,202. The Dow Jones Industrial Average DJIA, +0.20% added 45 points, or 0.2%, to 19,002. The Nasdaq Composite COMP, +0.25% began the session up 16 points, or 0.3%, at 5,385.
Analysts at Zacks Investment Research upgraded shares of ManTech International Corp. (NASDAQ: MANT) from Hold to Buy today. The company currently has a rating of Buy on the shares. A number of other analysts have commented on the stock recently, and ManTech International Corp. has earned a consensus one-year price target of $37.33, less than the opening price of $43.33. ManTech International Corp. stock has a 52-week high of $44.06. Stock prices sometimes get a spike to the upside when analysts upgrade a stock.
ManTech International Corp. (NASDAQ: MANT) shares last traded at $43.71, a spike of $0.37 or 0.85% over the previous closing price. Opening at $43.33, they fluctuated from $43.33 and $43.73 throughout the day.
ManTech International Corp. (NASDAQ: MANT) currently has a market cap of 1.68B.
ManTech International Corp. (NASDAQ: MANT) Average Daily Trading Volume
The stock’s average daily volume is 127,040 shares out of a total float 25,245,000 and some 4,419 shares traded hands yesterday, below normal. Trading volume is likely to increase in the next few days as swing traders often use upticks in trading volume to pinpoint large volume accumulation or dissemination by institutional investors.
However, a single day of significant buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a cue 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.
Institutional investors such as these have substantial teams of analysts that research thousands of stocks, so it is good validation to see them buying a stock you are considering.
ManTech International Corp. (NASDAQ: MANT) 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 traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, ManTech International Corp. (NASDAQ: MANT) now has a 50-day MA of $39.59 and 200-day MA of $38.48. It has traded in a 52-week range between $25.76 – 44.06 and today’s last price is 0.79%% lower than the 52 week high of $44.06.
Earnings growth is a critical factor to research when investing in stocks and investors watch for companies that have increased their earnings by at least 25% for a 3 year period.
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