Pandora Media, Inc. (NYSE: P) shares fell on Tuesday January 17 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, in early trade, the Dow Jones Industrial Average was 47 points lower, or 0.24% to 19838, the S&P 500 fell 7 points, or 0.29% to 2267, while the Nasdaq was down 19 points, or 0.35% to 5554.
Needham & Company analysts reiterated its Positive rating on Pandora Media, Inc. (NYSE: P) in a note to investors, making it one of the more closely watched stocks on Wall Street. The company currently has a rating of Positive on the shares. A number of other analysts have spoken on the stock in recent days, and the company has secured a consensus one-year price target of $14.48, higher than the opening price of $12.65, a difference of 11.45 percent. Pandora Media, Inc. stock has a 52-week high of $14.98. Stock prices sometimes get a boost to the upside when analysts reiterate coverage.
Yesterday Pandora Media, Inc. (NYSE: P) shares last traded at $12.65, which is a dip of $0.11 compared to the previous closing price. Opening at $12.65, they ranged from $12.62 and $12.76 throughout the day.
Pandora Media, Inc. (NYSE: P) now has a market cap of 2.95B.
Pandora Media, Inc. (NYSE: P) Average Daily Trading Volume
The stock’s average daily volume is 7,612,780 shares out of a total float 206,270,000 and some 581,014 shares crossed the trading desk yesterday, 85 percent lower than the average. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for short periods will not mean much 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 commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts researching thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Pandora Media, Inc. (NYSE: P) 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, Pandora Media, Inc. (NYSE: P) now has a 50-day MA of $12.82 and 200-day MA of $12.91. It has traded in a 52-week range between $7.10 – 14.98 and today’s last price is 15.55%% lower than the 52 week high of $14.98.
Earnings growth is an important factor to look at when buying stocks and investors identify companies that have increased their earnings by at least 25% over a 3 year period.
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