Analysts at Zacks Investment Research downgraded shares of National Instruments Corp. (NASDAQ: NATI) from Hold to Sell in a research note to investors today. The company currently has a rating of Sell on the stock. A number of other analysts have commented on the company recently, and the company has secured a consensus one-year price target of $31.67, above the opening price of $27.54. National Instruments Corp. stock has a 52-week high of $31.71. Important and integral changes in the company’s procedures, future ision or industry can cause downgrades as the analysts consider that the future prospects for the security have weakened from the initial recommendation.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Shares of National Instruments Corp. (NASDAQ: NATI) opened at $27.54 yesterday trading between $27.43 and $27.89, and last traded at $27.80, which is an increase of $0.40 compared to the previous closing price.
National Instruments Corp. (NASDAQ: NATI) now has a market cap of 3.58B.
The stock’s average daily volume is 622,056 shares out of a total float 115,963,000 and some 824,488 shares crossed the trading desk yesterday, above normal. Considerable volume accumulation by institutional investors may be on the horizon as the combination of large expansions in trading volume and price inflation can be deciding components.
However, just a 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 signal 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.
These instituitional investors have teams of analysts researching thousands of stocks, so it is good corroboration to see them buying a stock you’re researching.
By marking the activity of these professional investors and how they affect moving averages, traders are able to make make smarter trades.
With that in mind, National Instruments Corp. (NASDAQ: NATI) now has a 50-day MA of $27.83 and 200-day MA of $28.19. It has traded in a 52-week range between $25.90 – 31.71 and today’s last price is 0.12% lower than the 52 week high of $31.71.
Earnings growth is a critical factor to research when buying stocks and investors look for companies that have raised their earnings by at least 25% for 3 consecutive years.
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