Analysts at Zacks Investment Research upgraded shares of Newpark Resources Inc. (NYSE: NR) from Hold to Buy today. The company currently has a rating of Buy on the shares. As a means of comparison, a number of other analysts have commented on the stock in recent days, and the company has earned a consensus one-year price target of $7.08, higher than the opening price of $6.77. Newpark Resources Inc. stock has a 52-week high of $7.72. Usually, after analysts assign an upgrade report on a stock, they will subsequently issue other updates, such as a price target change.
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.
Yesterday Newpark Resources Inc. (NYSE: NR) shares last traded at $6.60, which is a drop of $0.18 compared to the previous closing price. Opening at $6.77, they varied from $6.59 and $6.80 throughout the day.
Newpark Resources Inc. (NYSE: NR) currently has a market cap of 557.83M.
442,333 shares crossed the trading desk yesterday, 25 percent below normal, out of a total float 82,054,000. Momentum traders often use increases in trading volume to identify large volume aggregation or distribution by institutional investors, so trading volume is likely to increase in the next few days.
While higher trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a series of days or weeks delivers a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is crucial.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have substantial teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you are researching.
By tracking the activity of these professional investors—and the moving averages they influence—it allows for traders to make more impactful choices on trades.
With that in mind, Newpark Resources Inc. (NYSE: NR) now has a 50-day MA of $7.03 and 200-day MA of $5.49. It has traded in a 52-week range between $3.35 – 7.72 and today’s last price is 0.15% lower than the 52 week high of $7.72.
Earnings growth is a critical factor to look at when buying stocks and investors seek companies that have grown their earnings at least 25% or more over 3 consecutive years.
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