Analysts at Credit Suisse Group AG initiated coverage on Monster Beverage Corp. (NASDAQ: MNST) stock, starting the company at Outperform. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has secured a consensus one-year price target of $178.00, $143.19. Monster Beverage Corp.stock has a 52-week high of $166.50.After beginning or initiating coverage, analysts and brokerage firms will subsequently issue periodic updates. Changes in price targets are not unusual.
U.S. stocks finished higher Thursday, near their intra-day highs.
The Dow Jones Industrial Average DJIA, +0.99% closed up 177.71 points, or 1%, at 18,212.48, led by a 3.4% surge in shares of Apple Inc. AAPL, +3.40%
All 30 of the Dow components finished in the green.
The S&P 500 index SPX, +1.01% wrapped up 21.49 points, or 1%, to 2,147.26, and all the large-cap gauge’s sectors ended higher, topped by a 1.7% rise in the tech sector and a 1.1% gain in health-care shares
The Nasdaq Composite Index COMP, +0.36% advanced 18.52 points, or 0.4%, to close at 5,173.77.
Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.
Shares of Monster Beverage Corp. (NASDAQ: MNST) opened at $143.19 today and traded in a range between, $142.65 and $147.17, and last traded at $146.35, which represents a change of $ 3.45 over the previous closing price.
Monster Beverage Corp. (NASDAQ: MNST) currently has a market cap of 27.86B
The stocks average daily volume is 989,402 shares out of a total float 141,572,000 of and some 1,883,049 shares traded hands yesterday, 52 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.
While increased trading for one day will not mean much, conversely, 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 have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are considering.
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 Monster Beverage Corp. (NASDAQ: MNST) now has a 50-day MA is $156.29 and 200-day MA is $147.45, and it has traded in a 52-week range between $113.08 – 166.50 and today’s last price is -12.10 percent off the 52 week high.
Earnings growth is an important factor to look at when buying stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.
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