Omega Protein Corp. (NYSE: OME) shares rose in value Thursday Dec 22 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, U.S. stocks opened mostly flat on Thursday. The Dow Jones Industrial Average DJIA, -0.15% fell 15 points to 19,928, a drop of less than 0.1%. The S&P 500 SPX, -0.22% fell 1 point, or 0.05%, to 2,264. The Nasdaq Composite Index COMP, -0.23% fell 1 point to 5,470.21, essentially unchanged on the day.
Analysts at Zacks Investment Research upgraded shares of Omega Protein Corp. (NYSE: OME) from Hold to Buy today. Zacks Investment Research currently has a rating of Buy on the stock. A number of other analysts have issued reports on the company recently, and Omega Protein Corp. has earned a consensus one-year price target of $26.00, higher than the opening price of $25.30, a difference of 10.26 percent. Omega Protein Corp. stock has a 52-week high of $26.30. Typically, after analysts publish an upgrade report on a stock, they will later issue other revisions, such as a price target change.
Shares of Omega Protein Corp. (NYSE: OME) opened at $25.30 on Tuesday and has traded in a range between, $25.30 and $25.35, and last traded at $25.35, which represents a spike of $0.10 or 0.40% compared to the previous closing price.
Omega Protein Corp. (NYSE: OME) now has a market cap of 568.78M.
Omega Protein Corp. (NYSE: OME) Average Daily Trading Volume
The stock’s average daily volume is 150,603 shares out of a total float 20,269,000 and some 1,604 shares crossed the trading desk yesterday, below the average. Investors often use upticks in trading volume to pinpoint heavy volume aggregation or dissemination by institutional investors, so trading volume is likely to increase in the next few days.
As with all potential breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have substantial teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.
Omega Protein Corp. (NYSE: OME) 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 marking the activity of these professional investors—and the moving averages they influence—it allows for traders to make more effective judgments on trades.
Trades for Omega Protein Corp. (NYSE: OME) have ranged from $14.58 – 26.30, and the stock now has a 50-day MA of $23.70 and 200-day MA of $22.90. Today’s last price is 3.61%% below the 52 week high of $26.30.
Earnings growth is a critical factor to research when buying stocks and investors identify companies that have increased their earnings by at least 25% for 3 consecutive years.
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