MSCI Inc (NYSE: MSCI) shares rose in value on Tuesday February 7 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
U.S. stocks were up in early trade on Tuesday which could put the equity market on track to set new records.
Investors were focusing on earnings, with GM and Michael Kors making moves after reporting early.
S&P 500 futures ESH7, +0.31% rose 7 points, or 0.3%, to 2,293.50, while Dow Jones Industrial Average futures YMH7, +0.46% tacked on 70 points, or 0.4%, to 20,042. Nasdaq-100 futures NQH7, +0.48% added 14 points, or 0.3%, to 5,171.75.
Analysts at Zacks Investment Research upgraded shares of MSCI Inc (NYSE: MSCI) from Hold to Buy today. The company currently has a rating of Buy on the stock. As a means of comparison, a number of other analysts have commented on the company recently, and MSCI Inc has earned a consensus one-year price target of $92.67, a decrease compared to the opening price of $93.67, a difference of 9.91 percent. MSCI Inc stock has a 52-week high of $94.80. Typically, after analysts publish an upgrade report on a stock, they will later issue periodic updates, such as a price target change.
Yesterday MSCI Inc (NYSE: MSCI) shares last traded at $93.47, which is a spike of $0.40 from the previous closing price. Opening at $93.67, they fluctuated from $92.98 and $94.80 throughout the day.
MSCI Inc (NYSE: MSCI) now has a market cap of 8.53B.
MSCI Inc (NYSE: MSCI) Average Daily Trading Volume
161,104 shares crossed the trading desk yesterday, 97 percent below the average, out of a total float 86,753,000. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain substantial teams of analysts that investigate thousands of stocks, so it is good corroboration to see them buying a stock you’re researching.
MSCI Inc (NYSE: MSCI) 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, MSCI Inc (NYSE: MSCI) now has a 50-day MA of $82.11 and 200-day MA of $83.15. It has traded in a 52-week range between $62.27 – 94.80 and today’s last price is 1.40%% lower than the 52 week high of $94.80.
Earnings growth is an important factor to look at when buying stocks and investors look for companies that have raised their earnings at least 25% or more over the past 3 years.
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